California State Teachers Retirement System Decreases Stock Position in Dover Corporation $DOV

California State Teachers Retirement System trimmed its holdings in Dover Corporation (NYSE:DOV) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 223,341 shares of the industrial products company’s stock after selling 3,016 shares during the period. California State Teachers Retirement System owned 0.17% of Dover worth $46,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Dover by 9.2% in the first quarter. Royal Bank of Canada now owns 225,909 shares of the industrial products company’s stock valued at $47,090,000 after purchasing an additional 18,997 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Dover by 20.7% during the 1st quarter. Quantinno Capital Management LP now owns 55,661 shares of the industrial products company’s stock worth $11,603,000 after purchasing an additional 9,530 shares in the last quarter. SummitTX Capital L.P. acquired a new position in shares of Dover during the 1st quarter worth approximately $910,000. OMERS ADMINISTRATION Corp raised its position in shares of Dover by 65.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,222 shares of the industrial products company’s stock worth $1,714,000 after purchasing an additional 3,252 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA purchased a new stake in Dover in the 1st quarter valued at approximately $1,003,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 3.1%

DOV stock opened at $204.16 on Friday. The company has a 50 day moving average price of $214.98 and a two-hundred day moving average price of $215.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a market capitalization of $27.50 billion, a P/E ratio of 24.60, a PEG ratio of 1.51 and a beta of 1.16. Dover Corporation has a one year low of $158.97 and a one year high of $237.54.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, sell-side analysts expect that Dover Corporation will post 10.64 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is presently 25.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Barclays upped their price objective on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Seaport Research Partners increased their price objective on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Oppenheimer lifted their price objective on Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Robert W. Baird set a $270.00 target price on shares of Dover in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

Dover Company Profile

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.