Maryland State Retirement & Pension System Sells 513 Shares of Dover Co. (NYSE:DOV)

Maryland State Retirement & Pension System reduced its stake in shares of Dover Co. (NYSE:DOV) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,321 shares of the industrial products company’s stock after selling 513 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Dover were worth $1,373,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in Dover during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new stake in Dover during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Dover during the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover during the fourth quarter valued at approximately $46,000. 84.46% of the stock is owned by institutional investors.

Dover Stock Down 0.8 %

Dover stock opened at $179.78 on Friday. The business has a fifty day moving average of $194.60 and a two-hundred day moving average of $193.50. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $24.67 billion, a P/E ratio of 9.24, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. Dover’s dividend payout ratio is currently 10.59%.

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. Citigroup dropped their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Barclays boosted their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Profile

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.