Dover Corporation (NYSE:DOV) Stock Position Increased 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 lifted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 37.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,486 shares of the industrial products company's stock after acquiring an additional 54,807 shares during the quarter. LPL Financial LLC owned 0.15% of Dover worth $35,046,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup restated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Mizuho raised their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays increased their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

Shares of DOV traded down $2.64 during midday trading on Wednesday, hitting $174.54. 508,535 shares of the stock traded hands, compared to its average volume of 1,070,853. The business's 50 day moving average price is $182.52 and its two-hundred day moving average price is $182.71. The firm has a market capitalization of $23.93 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. 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 posted its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. Dover's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.36 EPS. Equities research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

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.