California Public Employees Retirement System Sells 4,311 Shares of Dover Corporation $DOV

California Public Employees Retirement System decreased its holdings in shares of Dover Corporation (NYSE:DOV) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,904 shares of the industrial products company’s stock after selling 4,311 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Dover worth $51,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Orion Porfolio Solutions LLC grew its holdings in Dover by 0.7% during the 4th quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock worth $1,472,000 after acquiring an additional 51 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Dover by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 52 shares during the period. KCM Investment Advisors LLC lifted its stake in shares of Dover by 3.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 53 shares during the period. Tectonic Advisors LLC boosted its position in shares of Dover by 1.7% in the 4th quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 54 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Dover by 2.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 56 shares during the period. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DOV shares. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Seaport Research Partners raised their target price on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Oppenheimer upped their price target on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $252.00 price objective on shares of Dover in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.43.

Dover Trading Down 2.1%

NYSE:DOV opened at $209.64 on Tuesday. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The stock has a market capitalization of $28.23 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The business’s 50-day simple moving average is $216.09 and its 200-day simple moving average is $215.24.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.Dover’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Sell-side analysts expect that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 25.94%.

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.