L & S Advisors Inc Decreases Stock Holdings in Dover Corporation (NYSE:DOV)

Key Points

• L & S Advisors Inc reduced its stake in Dover Corporation by 33.2%, now holding 23,353 shares valued at approximately $4.1 million, according to their recent SEC filing.
• During the first quarter, several institutional investors made significant moves with Dover, including a 49.9% increase in holdings by Arkadios Wealth Advisors.
• Dover's recent quarterly earnings topped expectations with an EPS of $2.44, beating the forecast by $0.05, and revenue increased by 5.2% year-over-year.

L & S Advisors Inc trimmed its position in Dover Corporation (NYSE:DOV - Free Report) by 33.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,353 shares of the industrial products company's stock after selling 11,609 shares during the quarter. L & S Advisors Inc's holdings in Dover were worth $4,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. acquired a new stake in shares of Dover in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover in the 1st quarter valued at $31,000. Orion Capital Management LLC acquired a new stake in shares of Dover in the 4th quarter valued at $43,000. Ameriflex Group Inc. acquired a new stake in shares of Dover in the 4th quarter valued at $69,000. Finally, Quarry LP raised its holdings in shares of Dover by 257.0% in the 4th quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 293 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Barclays lifted their price target on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, Morgan Stanley initiated coverage on shares of Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded down $0.20 during midday trading on Tuesday, hitting $175.91. The stock had a trading volume of 219,752 shares, compared to its average volume of 1,068,575. The company has a market capitalization of $24.12 billion, a PE ratio of 10.62, a P/E/G ratio of 1.39 and a beta of 1.26. The stock has a 50 day moving average price of $182.61 and a two-hundred day moving average price of $182.75. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.36 earnings per share. As a group, equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Profile

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.