Retirement Systems of Alabama Has $5.57 Million Stock Position in Dover Co. (NYSE:DOV)

Retirement Systems of Alabama reduced its holdings in Dover Co. (NYSE:DOV) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,704 shares of the industrial products company’s stock after selling 358 shares during the period. Retirement Systems of Alabama’s holdings in Dover were worth $5,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Dover in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new stake in Dover in the 3rd quarter worth about $33,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new position in Dover in the fourth quarter valued at about $38,000. Finally, Avior Wealth Management LLC increased its stake in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 167 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOV has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup decreased their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Finally, The Goldman Sachs Group increased their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

Shares of DOV opened at $202.59 on Monday. The stock’s 50-day simple moving average is $195.31 and its 200 day simple moving average is $191.11. The stock has a market capitalization of $27.79 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 52-week low of $158.19 and a 52-week high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Research analysts forecast that Dover Co. will post 9.47 EPS for the current fiscal year.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.