Teacher Retirement System of Texas Sells 267,382 Shares of Dover Corporation $DOV

Teacher Retirement System of Texas decreased its stake in Dover Corporation (NYSE:DOV) by 77.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,921 shares of the industrial products company’s stock after selling 267,382 shares during the period. Teacher Retirement System of Texas’ holdings in Dover were worth $13,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Machina Capital S.A.S. raised its stake in Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after buying an additional 2,452 shares during the last quarter. Nordea Investment Management AB grew its holdings in Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock worth $22,701,000 after acquiring an additional 10,581 shares during the period. Generali Asset Management SPA SGR raised its position in shares of Dover by 103.4% in the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after acquiring an additional 8,145 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Dover by 1,644.9% during the 3rd quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock valued at $4,463,000 after purchasing an additional 25,216 shares in the last quarter. Finally, Advisory Resource Group grew its stake in Dover by 7.7% during the second quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after purchasing an additional 2,047 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

DOV opened at $206.81 on Friday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a market cap of $28.36 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.44 and a beta of 1.31. The company’s fifty day moving average price is $195.68 and its two-hundred day moving average price is $183.39. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the company earned $2.27 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s payout ratio is currently 12.79%.

Insider Activity at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. The trade was a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays boosted their price target on Dover from $195.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company upped their price objective on shares of Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Finally, Robert W. Baird set a $235.00 price objective on shares of Dover in a research report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $218.09.

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.