Louisiana State Employees Retirement System strengthened its position in Dover Co. (NYSE: DOV – Get a rating) by 1.1% during the first quarter, HoldingsChannel.com reports. The fund held 9,100 shares of the industrial products company after buying an additional 100 shares during the quarter. Assets at the Louisiana State Employees Retirement System in Dover were worth $1,415,000 at the end of the most recent reporting period.
A number of other large investors have also recently changed their positions in DOV. CVA Family Office LLC bought a new position in Dover in the fourth quarter worth about $35,000. Allworth Financial LP increased its stake in Dover by 45.2% in the fourth quarter. Allworth Financial LP now owns 196 shares of the industrial products company valued at $36,000 after acquiring 61 additional shares in the last quarter. Life Planning Partners Inc purchased a new equity stake in Dover during the fourth quarter for $41,000. Covestor Ltd purchased a new equity stake in Dover during the fourth quarter worth $64,000. Finally, Quent Capital LLC purchased a new equity stake in Dover during the fourth quarter for $67,000. 84.14% of the shares are currently held by institutional investors and hedge funds.
DOV has been the subject of a number of research reports. Robert W. Baird lowered his price target on Dover shares from $194.00 to $169.00 in a Thursday, April 21 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Dover shares from $187.00 to $182.00 and placed a “hold” rating on the stock in a Thursday, April 14 research note. Morgan Stanley lowered its price target on Dover shares from $161.00 to $149.00 and set an “equal weight” rating on the stock in a Tuesday May 31 research note. Goldman Sachs Group lowered its price target on Dover shares from $176.00 to $146.00 and set a “buy” rating on the stock in a Thursday, June 23 research note. Finally, the Royal Bank of Canada cut its price target on Dover shares from $170.00 to $162.00 and set an “industry performance” rating on the stock in a Friday research note. April 22. One research analyst rated the stock with a sell rating, six gave the company a hold rating, and six gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $168.67.
In other Dover news, please David J. Malinas bought 350 shares in a trade on Monday, April 25. The shares were acquired at an average cost of $139.44 per share, for a total transaction of $48,804.00. Following the completion of the acquisition, the senior vice president now owns 2,744 shares of the company, valued at approximately $382,623.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Insiders own 1.20% of the shares of the company.
Shares of Dover Action opened at $121.78 on Friday. The company has a market capitalization of $17.56 billion, a price/earnings ratio of 15.86, a PEG ratio of 1.03 and a beta of 1.40. The stock’s 50-day moving average is $128.28 and its 200-day moving average is $149.89. The company has a debt ratio of 0.69, a current ratio of 1.44 and a quick ratio of 0.85. Dover Co. has a one-year low of $117.17 and a one-year high of $184.04.
Dover (NYSE: DOV – Get a rating) last reported results on Thursday, April 21. The industrial products company reported earnings per share of $1.90 for the quarter, beating analysts’ consensus estimate of $1.84 by $0.06. The company posted revenue of $2.05 billion in the quarter, versus a consensus estimate of $2.03 billion. Dover had a return on equity of 27.82% and a net margin of 13.81%. The company’s revenue for the quarter increased 9.8% on an annual basis. During the same period a year earlier, the company posted earnings per share of $1.81. On average, sell-side analysts expect Dover Co. to post EPS of 8.55 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Tuesday, May 31 received a dividend of $0.50. The ex-dividend date was Friday, May 27. This represents a dividend of $2.00 on an annualized basis and a yield of 1.64%. Dover’s payout ratio is currently 26.04%.
Dover Company Profile (Get a rating)
Dover Corporation provides equipment and components, consumables, spare parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, components, software, solutions and services that are used in vehicle aftermarket, solid waste management, industrial automation, aerospace and defense, winches and industrial hoists and the fluid distribution end market.
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