State of New Jersey Common Pension Fund D Trims Stake in Dover Co. (NYSE:DOV)

State of New Jersey Common Pension Fund D reduced its position in shares of Dover Co. (NYSE:DOV) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 46,846 shares of the industrial products company’s stock after selling 97 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Dover were worth $8,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC grew its position in Dover by 11.0% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,584 shares of the industrial products company’s stock worth $1,604,000 after acquiring an additional 852 shares in the last quarter. Allworth Financial LP grew its position in Dover by 10.3% in the fourth quarter. Allworth Financial LP now owns 2,751 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 258 shares in the last quarter. Principal Securities Inc. grew its position in Dover by 43.4% in the fourth quarter. Principal Securities Inc. now owns 2,384 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 722 shares in the last quarter. Montag A & Associates Inc. grew its position in Dover by 3.3% in the fourth quarter. Montag A & Associates Inc. now owns 6,031 shares of the industrial products company’s stock worth $1,131,000 after acquiring an additional 195 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in Dover by 3.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,069 shares of the industrial products company’s stock worth $951,000 after acquiring an additional 186 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DOV. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

Shares of NYSE:DOV opened at $205.21 on Wednesday. The company has a market cap of $28.15 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a 50-day moving average price of $195.35 and a 200-day moving average price of $192.09. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12 month low of $159.48 and a 12 month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities analysts anticipate that Dover Co. will post 9.47 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Dover Company 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.