Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 4.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,176 shares of the industrial products company’s stock after selling 442 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Dover were worth $1,597,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in DOV. FinTrust Capital Advisors LLC acquired a new position in Dover in the 1st quarter valued at approximately $44,000. Fairfield Bush & CO. acquired a new position in Dover in the 1st quarter valued at approximately $48,000. Standard Family Office LLC acquired a new position in Dover in the 1st quarter valued at approximately $50,000. Hazlett Burt & Watson Inc. acquired a new position in Dover in the 1st quarter valued at approximately $53,000. Finally, Jones Financial Companies Lllp raised its holdings in Dover by 41.1% in the 1st quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on DOV shares. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Barclays lowered their price objective on Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. Wells Fargo & Company upped their price objective on Dover to $135.00 in a research note on Friday, July 22nd. Finally, Mizuho lowered their price objective on Dover from $175.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $161.17.
Dover Stock Down 0.5 %
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.18 billion. Dover had a return on equity of 26.94% and a net margin of 13.90%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. As a group, sell-side analysts forecast that Dover Co. will post 8.5 earnings per share for the current fiscal year.
Dover Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. This is a positive change from Dover’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 30th. Dover’s dividend payout ratio (DPR) is presently 25.70%.
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
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