Lecap Asset Management Ltd. Boosts Stock Holdings in Dover Corporation (NYSE:DOV)

Lecap Asset Management Ltd. boosted its position in Dover Corporation (NYSE:DOV - Free Report) by 175.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,439 shares of the industrial products company's stock after buying an additional 13,658 shares during the quarter. Dover makes up about 0.9% of Lecap Asset Management Ltd.'s holdings, making the stock its 12th largest position. Lecap Asset Management Ltd.'s holdings in Dover were worth $3,766,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares during the last quarter. Orion Capital Management LLC bought a new position in Dover during the fourth quarter worth about $43,000. Mainstream Capital Management LLC purchased a new position in shares of Dover in the fourth quarter worth about $61,000. Ameriflex Group Inc. bought a new stake in shares of Dover in the fourth quarter valued at approximately $69,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Dover during the 4th quarter valued at approximately $75,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 1.4%

Shares of Dover stock opened at $180.09 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The company's 50 day moving average price is $175.62 and its 200-day moving average price is $183.94. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 1.71 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. The company's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. Equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 30th. Dover's payout ratio is 12.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DOV shares. Mizuho lifted their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Barclays lifted their price target on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Citigroup decreased their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus target price of $208.58.

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.

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