Dover Corporation $DOV Holdings Increased by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in Dover Corporation (NYSE:DOV) by 17,645.5% in the second quarter, HoldingsChannel reports. The fund owned 39,632,967 shares of the industrial products company’s stock after purchasing an additional 39,409,626 shares during the quarter. California State Teachers Retirement System owned approximately 0.29% of Dover worth $8,888,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. raised its holdings in Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management acquired a new stake in Dover in the fourth quarter worth approximately $26,000. MV Capital Management Inc. bought a new position in Dover during the 4th quarter valued at $29,000. Clearstead Trust LLC acquired a new position in shares of Dover during the 2nd quarter valued at $30,000. Finally, Financial Life Planners bought a new stake in shares of Dover in the 1st quarter worth $31,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

DOV opened at $194.69 on Wednesday. The firm has a market cap of $26.22 billion, a PE ratio of 23.46, a P/E/G ratio of 1.46 and a beta of 1.15. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $205.89 and a 200-day simple moving average of $213.10. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. Dover’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities analysts predict that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 25.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DOV shares. Royal Bank Of Canada cut their price objective on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Robert W. Baird set a $270.00 target price on Dover in a report on Friday, July 24th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

About Dover

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.