New York State Common Retirement Fund Trims Position in Dover Co. (NYSE:DOV)

New York State Common Retirement Fund reduced its position in Dover Co. (NYSE:DOV) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 120,619 shares of the industrial products company’s stock after selling 6,881 shares during the period. New York State Common Retirement Fund owned about 0.09% of Dover worth $22,628,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOV. Financial Life Planners purchased a new position in Dover during the fourth quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Dover during the 3rd quarter valued at about $33,000. R Squared Ltd purchased a new position in shares of Dover during the 4th quarter worth about $34,000. Kieckhefer Group LLC acquired a new stake in shares of Dover in the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the fourth quarter valued at approximately $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Down 2.9 %

NYSE DOV opened at $200.43 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a fifty-two week low of $161.19 and a fifty-two week high of $222.31. The business has a 50 day moving average price of $195.51 and a two-hundred day moving average price of $192.47. The stock has a market cap of $27.51 billion, a PE ratio of 10.30, a P/E/G ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, sell-side analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DOV shares. Barclays increased their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup reduced their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group dropped their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Profile

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.