L & S Advisors Inc Acquires 12,999 Shares of Dover Corporation $DOV

L & S Advisors Inc raised its holdings in Dover Corporation (NYSE:DOV) by 55.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,352 shares of the industrial products company’s stock after acquiring an additional 12,999 shares during the quarter. L & S Advisors Inc’s holdings in Dover were worth $6,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AdvisorShares Investments LLC purchased a new stake in shares of Dover during the second quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new stake in Dover in the 1st quarter valued at about $31,000. Harbour Investments Inc. boosted its position in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares during the period. Investment Research & Advisory Group Inc. bought a new position in Dover in the 2nd quarter worth about $33,000. Finally, Truvestments Capital LLC increased its position in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 171 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Barclays increased their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Oppenheimer cut their price target on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Robert W. Baird set a $235.00 price objective on Dover in a report on Friday, October 24th. UBS Group set a $200.00 target price on shares of Dover in a report on Friday, October 24th. Finally, Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.55.

Dover Trading Down 0.9%

NYSE DOV opened at $181.94 on Friday. The company has a 50 day moving average price of $172.48 and a 200 day moving average price of $177.66. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a market cap of $24.95 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. As a group, sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio (DPR) is currently 12.79%.

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.