New York State Teachers Retirement System decreased its stake in shares of Dover Corporation (NYSE:DOV) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,554 shares of the industrial products company’s stock after selling 1,300 shares during the period. New York State Teachers Retirement System owned about 0.16% of Dover Corporation worth $22,990,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Dover Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock valued at $1,327,596,000 after buying an additional 370,572 shares during the last quarter. BlackRock Inc. lifted its holdings in Dover Corporation by 3.9% during the second quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after acquiring an additional 389,449 shares during the period. Pzena Investment Management LLC lifted its holdings in Dover Corporation by 0.3% during the second quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock worth $449,176,000 after acquiring an additional 17,738 shares during the period. JPMorgan Chase & Co. lifted its holdings in Dover Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after acquiring an additional 511,469 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Dover Corporation by 5.2% during the second quarter. Wells Fargo & Company MN now owns 3,132,315 shares of the industrial products company’s stock worth $251,274,000 after acquiring an additional 154,678 shares during the period. 85.19% of the stock is currently owned by institutional investors.
In related news, VP Paul Goldberg sold 4,400 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $95.25, for a total transaction of $419,100.00. Following the sale, the vice president now directly owns 4,070 shares in the company, valued at approximately $387,667.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the sale, the director now owns 275,344 shares in the company, valued at $26,342,160.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,400 shares of company stock worth $5,207,952. 2.50% of the stock is currently owned by corporate insiders.
A number of analysts recently commented on the company. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus lifted their price target on Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Seaport Global Securities reiterated a “neutral” rating on shares of Dover Corporation in a report on Wednesday, September 13th. Robert W. Baird reiterated a “buy” rating and set a $95.00 price target on shares of Dover Corporation in a report on Tuesday, September 12th. Finally, Zacks Investment Research lowered Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.69.
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Shares of Dover Corporation (NYSE:DOV) opened at $95.92 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. Dover Corporation has a one year low of $65.50 and a one year high of $97.09. The stock has a market capitalization of $14,943.47, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.87 and a beta of 1.28.
Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. research analysts anticipate that Dover Corporation will post 3.94 earnings per share for the current year.
About Dover Corporation
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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