Texas Permanent School Fund lowered its position in Dover Corporation (NYSE:DOV) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 43,740 shares of the industrial products company’s stock after selling 1,695 shares during the period. Texas Permanent School Fund’s holdings in Dover Corporation were worth $3,509,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Dover Corporation by 12.4% in the fourth quarter. FMR LLC now owns 120,825 shares of the industrial products company’s stock worth $9,053,000 after buying an additional 13,326 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Dover Corporation by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,390 shares of the industrial products company’s stock worth $404,000 after buying an additional 300 shares during the period. Quadrature Capital Ltd increased its stake in shares of Dover Corporation by 6.7% in the fourth quarter. Quadrature Capital Ltd now owns 9,492 shares of the industrial products company’s stock worth $711,000 after buying an additional 592 shares during the period. Teachers Advisors LLC increased its stake in shares of Dover Corporation by 164.9% in the fourth quarter. Teachers Advisors LLC now owns 558,407 shares of the industrial products company’s stock worth $41,841,000 after buying an additional 347,592 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in shares of Dover Corporation during the fourth quarter worth $845,000. 84.52% of the stock is owned by institutional investors.

Dover Corporation (NYSE DOV) opened at 86.54 on Friday. The company has a market cap of $13.48 billion, a P/E ratio of 21.64 and a beta of 1.27. The stock’s 50 day moving average is $82.25 and its 200 day moving average is $80.55. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $87.23.

Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.76 EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Dover Corporation will post $4.31 earnings per share for the current fiscal year.

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DOV has been the subject of a number of recent analyst reports. Citigroup Inc. upped their price target on shares of Dover Corporation from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 11th. Barclays PLC upped their price target on shares of Dover Corporation from $78.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Stifel Nicolaus upped their price target on shares of Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 21st. Edward Jones downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $89.00 price target (up previously from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $87.73.

In other news, Director Michael B. Stubbs sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at approximately $22,914,127.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP C. Anderson Fincher sold 15,638 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $79.85, for a total transaction of $1,248,694.30. Following the completion of the sale, the vice president now owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

About Dover Corporation

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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