Treasurer of the State of North Carolina Has $11.31 Million Stock Position in Dover Co. (NYSE:DOV)

Treasurer of the State of North Carolina trimmed its holdings in Dover Co. (NYSE:DOV) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,308 shares of the industrial products company’s stock after selling 160 shares during the period. Treasurer of the State of North Carolina’s holdings in Dover were worth $11,314,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Financial Life Planners bought a new position in shares of Dover in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in the 4th 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 bought a new stake in Dover in the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the 4th quarter valued at approximately $46,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

DOV opened at $162.23 on Friday. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market capitalization of $22.24 billion, a PE ratio of 8.34, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business’s 50-day simple moving average is $184.81 and its 200 day simple moving average is $191.50.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, sell-side analysts expect 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. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is 10.59%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays lowered their target price on shares of Dover from $205.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday. UBS Group decreased their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.18.

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.