Kentucky Retirement Systems Insurance Trust Fund Purchases 1,963 Shares of Dover Co. (NYSE:DOV)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in Dover Co. (NYSE:DOV) by 48.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,033 shares of the industrial products company’s stock after acquiring an additional 1,963 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Dover were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Dover in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the 3rd quarter worth about $33,000. R Squared Ltd bought a new stake in shares of Dover in the 4th quarter worth about $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover in the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the 4th quarter worth about $46,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOV shares. UBS Group reduced their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised 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. JPMorgan Chase & Co. raised their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Up 1.4 %

NYSE DOV opened at $205.21 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a market capitalization 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’s 50-day simple moving average is $195.35 and its two-hundred day simple moving average is $192.09. Dover Co. has a one year low of $159.48 and a one year high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities analysts forecast that Dover Co. will post 9.47 EPS for the current fiscal year.

Dover Dividend Announcement

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

About Dover

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.