Retirement Systems of Alabama Increases Stock Position in Dover Co. (NYSE:DOV)

Retirement Systems of Alabama boosted its stake in Dover Co. (NYSE:DOV) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,894 shares of the industrial products company’s stock after purchasing an additional 4,331 shares during the quarter. Retirement Systems of Alabama owned about 0.14% of Dover worth $29,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc raised its stake in Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Dover during the fourth quarter valued at approximately $33,000. Life Planning Partners Inc bought a new position in Dover during the fourth quarter valued at approximately $35,000. Orion Capital Management LLC bought a new position in Dover during the third quarter valued at approximately $32,000. Finally, Headinvest LLC bought a new position in Dover during the third quarter valued at approximately $32,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 in the last quarter. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DOV shares. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Mizuho raised their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada raised their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird raised their price target on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Performance

Shares of Dover stock opened at $180.17 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $24.76 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.86 and a beta of 1.27. The business has a fifty day simple moving average of $171.75 and a two-hundred day simple moving average of $154.47. Dover Co. has a 12 month low of $127.25 and a 12 month high of $181.49.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. Dover’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. On average, equities analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is presently 19.60%.

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.