New York State Teachers Retirement System Decreases Stock Holdings in Dover Corporation $DOV

New York State Teachers Retirement System reduced its stake in shares of Dover Corporation (NYSE:DOV) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 116,258 shares of the industrial products company’s stock after selling 5,564 shares during the quarter. New York State Teachers Retirement System’s holdings in Dover were worth $22,698,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Dover during the 3rd quarter valued at $25,000. Tompkins Financial Corp boosted its stake in Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Dover by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Davis Capital Management bought a new position in Dover in the 3rd quarter worth about $44,000. Finally, Cornerstone Planning Group LLC lifted its stake in Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 208 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DOV. JPMorgan Chase & Co. upped their target price on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird upped their target price on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Barclays upped their price target on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Finally, Seaport Research Partners increased their target price on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.36.

Insider Buying and Selling

In related news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 over the last three months. 1.10% of the stock is owned by insiders.

Dover Stock Down 0.2%

NYSE DOV opened at $225.92 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. The company has a market capitalization of $30.42 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.72 and a beta of 1.21. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The stock has a 50 day moving average price of $216.25 and a 200-day moving average price of $202.91.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, equities analysts predict that Dover Corporation will post 10.64 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover’s dividend payout ratio (DPR) is currently 25.94%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.