Dover Corporation (NYSE:DOV) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Dover Corporation by 37.9% in the first quarter, acquiring an additional 54,807 shares and bringing their total holdings to 199,486 shares worth approximately $35 million.
• Dover Corporation reported $2.44 earnings per share for the last quarter, exceeding analyst expectations, with a revenue of $2.05 billion, marking a 5.2% increase year-over-year.
• Research analysts have varied ratings for Dover, with an average rating of "Moderate Buy" and a consensus price target of $213.92, reflecting optimism about the company's growth potential.

LPL Financial LLC raised its stake in Dover Corporation (NYSE:DOV - Free Report) by 37.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 199,486 shares of the industrial products company's stock after purchasing an additional 54,807 shares during the quarter. LPL Financial LLC owned 0.15% of Dover worth $35,046,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC raised its holdings in shares of Dover by 2.9% in the first quarter. Empirical Finance LLC now owns 4,952 shares of the industrial products company's stock worth $870,000 after acquiring an additional 140 shares during the last quarter. HB Wealth Management LLC increased its stake in Dover by 11.5% in the first quarter. HB Wealth Management LLC now owns 8,951 shares of the industrial products company's stock valued at $1,573,000 after purchasing an additional 922 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Dover by 5.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 36,314 shares of the industrial products company's stock valued at $6,380,000 after purchasing an additional 1,766 shares during the last quarter. Stevens Capital Management LP acquired a new position in Dover in the first quarter valued at $295,000. Finally, Neo Ivy Capital Management increased its stake in Dover by 38.8% in the first quarter. Neo Ivy Capital Management now owns 3,990 shares of the industrial products company's stock valued at $701,000 after purchasing an additional 1,116 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Down 3.4%

NYSE DOV traded down $6.17 on Friday, hitting $174.97. 1,540,718 shares of the stock traded hands, compared to its average volume of 1,238,399. The stock has a 50-day moving average of $182.64 and a 200 day moving average of $182.88. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a market capitalization of $23.99 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. 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 (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. Dover's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 earnings per share. As a group, analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOV. Citigroup reissued a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Robert W. Baird boosted their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, Mizuho upped their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Company 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.