State of New Jersey Common Pension Fund D Has $8.79 Million Stock Holdings in Dover Co. (NYSE:DOV)

State of New Jersey Common Pension Fund D lowered its stake in shares of Dover Co. (NYSE:DOV) by 0.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DOV. Financial Life Planners acquired a new position in Dover during the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in Dover during the 3rd quarter valued at about $33,000. R Squared Ltd acquired a new position in Dover during the 4th quarter valued at about $34,000. Kieckhefer Group LLC acquired a new position in Dover during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. UBS Group lowered their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Up 1.4 %

Dover stock opened at $205.21 on Wednesday. Dover Co. has a 1-year low of $159.48 and a 1-year high of $222.31. The firm has a market capitalization of $28.15 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 2.03 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $195.35 and a 200 day simple moving average of $192.09.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. On average, analysts predict that Dover Co. will post 9.47 earnings per share for the current 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 given a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. Dover’s dividend payout ratio (DPR) 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.