Lecap Asset Management Ltd. Has $604,000 Holdings in Dover Co. (NYSE:DOV)

Lecap Asset Management Ltd. grew its holdings in Dover Co. (NYSE:DOV) by 34.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,151 shares of the industrial products company’s stock after purchasing an additional 811 shares during the period. Lecap Asset Management Ltd.’s holdings in Dover were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Interval Partners LP raised its holdings in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Dover during the second quarter valued at $17,323,000. Finally, Earnest Partners LLC grew its stake in Dover by 31.5% in the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Barclays boosted their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.75.

Dover Stock Performance

Shares of DOV opened at $184.70 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a one year low of $127.25 and a one year high of $195.68. The company’s fifty day moving average price is $186.66 and its 200 day moving average price is $182.12. The company has a market capitalization of $25.38 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, analysts expect that Dover Co. will post 9.18 earnings per share for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio is currently 19.79%.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

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.