Strs Ohio Acquires 23,368 Shares of Dover Corporation $DOV

Strs Ohio boosted its holdings in Dover Corporation (NYSE:DOV) by 9.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 268,242 shares of the industrial products company’s stock after acquiring an additional 23,368 shares during the period. Strs Ohio’s holdings in Dover were worth $44,751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. grew its stake in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Dover by 0.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after buying an additional 60 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in Dover by 4.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after buying an additional 60 shares during the period. Certuity LLC grew its position in Dover by 2.5% during the second quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after buying an additional 64 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Dover by 4.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock valued at $253,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DOV shares. Citigroup reiterated a “buy” rating on shares of Dover in a research note on Monday, January 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $199.00 target price on shares of Dover in a research report on Thursday, January 15th. JPMorgan Chase & Co. boosted their price target on Dover from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Oppenheimer raised their price objective on Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Finally, BNP Paribas Exane began coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.09.

Insiders Place Their Bets

In related news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their position. The SEC filing for this sale provides additional information. 1.30% of the stock is currently owned by corporate insiders.

Dover Price Performance

Shares of Dover stock opened at $206.81 on Friday. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.46 and a beta of 1.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $195.68 and its 200-day simple moving average is $183.43. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.12. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $2.27 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Dover Corporation 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 Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s payout ratio is 12.79%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.