Retirement Systems of Alabama Lowers Stock Position in Dover Co. (NYSE:DOV)

Retirement Systems of Alabama lessened its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 83.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,062 shares of the industrial products company's stock after selling 149,400 shares during the period. Retirement Systems of Alabama's holdings in Dover were worth $5,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its stake in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company's stock valued at $32,000 after buying an additional 176 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Dover in the 3rd quarter worth about $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter worth about $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in Dover during the 2nd quarter valued at about $41,000. Finally, Avior Wealth Management LLC increased its stake in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 167 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on DOV shares. JPMorgan Chase & Co. upped their target price on shares of Dover from $210.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. UBS Group initiated coverage on Dover in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 price objective on the stock. Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price target on Dover from $202.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Citigroup lifted their price objective on Dover from $226.00 to $236.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $213.91.

Dover Stock Performance

Shares of DOV traded up $0.13 on Thursday, reaching $188.94. The company's stock had a trading volume of 893,048 shares, compared to its average volume of 935,437. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26. The stock has a market capitalization of $25.92 billion, a P/E ratio of 16.90, a PEG ratio of 2.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The stock's 50 day simple moving average is $197.86 and its two-hundred day simple moving average is $187.70.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. Dover's dividend payout ratio (DPR) is 18.43%.

About Dover

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.