State of Alaska Department of Revenue Reduces Position in Dover Co. (NYSE:DOV)

State of Alaska Department of Revenue decreased its holdings in Dover Co. (NYSE:DOV) by 23.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,645 shares of the industrial products company’s stock after selling 4,761 shares during the period. State of Alaska Department of Revenue’s holdings in Dover were worth $2,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Financial Life Planners purchased a new position in Dover in the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Dover in the third quarter worth $33,000. R Squared Ltd bought a new stake in shares of Dover during the 4th quarter valued at $34,000. Kieckhefer Group LLC purchased a new stake in Dover during the 4th quarter worth about $38,000. Finally, Avior Wealth Management LLC boosted its stake in Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DOV shares. Royal Bank of Canada increased 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. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Barclays boosted their price target on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Citigroup dropped their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Performance

Shares of NYSE DOV opened at $202.59 on Monday. The stock’s 50-day moving average is $195.31 and its 200 day moving average is $191.11. The stock has a market cap of $27.79 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.03 and a beta of 1.24. Dover Co. has a 1-year low of $158.19 and a 1-year high of $222.31. 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 (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts anticipate that Dover Co. will post 9.47 EPS for the current fiscal year.

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.