California Public Employees Retirement System grew its holdings in shares of Dover Corp (NYSE:DOV) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,093 shares of the industrial products company’s stock after acquiring an additional 20,517 shares during the period. California Public Employees Retirement System’s holdings in Dover were worth $44,041,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Dover by 49.7% during the 3rd quarter. Janus Henderson Group PLC now owns 40,198 shares of the industrial products company’s stock worth $3,673,000 after acquiring an additional 13,344 shares during the period. Magnetar Financial LLC acquired a new stake in Dover during the 3rd quarter worth about $22,066,000. Victory Capital Management Inc. grew its stake in shares of Dover by 21.7% in the 3rd quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock valued at $2,327,000 after buying an additional 4,534 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Dover in the 3rd quarter valued at about $371,000. Finally, Third Point LLC acquired a new stake in shares of Dover in the 3rd quarter valued at about $150,794,000. Hedge funds and other institutional investors own 84.24% of the company’s stock.

In related news, SVP Stephen Gary Kennon sold 2,359 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $94.40, for a total value of $222,689.60. Following the transaction, the senior vice president now owns 5,192 shares of the company’s stock, valued at approximately $490,124.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP William T. Bosway sold 6,087 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the transaction, the vice president now directly owns 21,877 shares in the company, valued at approximately $2,070,876.82. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

DOV has been the subject of several research reports. BMO Capital Markets restated a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus restated a “hold” rating and issued a $112.00 target price (up from $100.00) on shares of Dover in a research note on Tuesday, January 16th. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. ValuEngine downgraded Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Seaport Global Securities restated a “hold” rating and issued a $110.00 target price on shares of Dover in a research note on Friday, February 2nd. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.42.

Dover Corp (NYSE:DOV) opened at $99.69 on Thursday. Dover Corp has a 1 year low of $75.51 and a 1 year high of $109.06. The firm has a market cap of $15,152.12, a PE ratio of 19.36, a P/E/G ratio of 1.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01.

Dover (NYSE:DOV) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. equities analysts expect that Dover Corp will post 5.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 annualized dividend and a yield of 1.89%. Dover’s payout ratio is 36.50%.

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About Dover

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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