Gavekal Capital buys $16,273,792 stake in Dover Corp (DOV)

Dover Corp (DOV) : Gavekal Capital scooped up 22,965 additional shares in Dover Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 228,340 shares of Dover Corp which is valued at $16,273,792.Dover Corp makes up approximately 4.82% of Gavekal Capital’s portfolio.

Other Hedge Funds, Including , Cibc World Markets boosted its stake in DOV in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 5,200 shares of Dover Corp which is valued at $370,604.Bremer Trust National Association reduced its stake in DOV by selling 224 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 8,142 shares of DOV which is valued at $580,280. Dover Corp makes up approx 0.16% of Bremer Trust National Association’s portfolio. Cutler Group Lp sold out all of its stake in DOV during the most recent quarter. The investment firm sold 49 shares of DOV which is valued $3,544.Salem Capital Management Inc boosted its stake in DOV in the latest quarter, The investment management firm added 525 additional shares and now holds a total of 11,275 shares of Dover Corp which is valued at $815,408. Dover Corp makes up approx 0.46% of Salem Capital Management Inc’s portfolio.

Dover Corp closed down -0.13 points or -0.18% at $71.71 with 10,80,048 shares getting traded on Thursday. Post opening the session at $71.57, the shares hit an intraday low of $71.27 and an intraday high of $71.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Dover Corp reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.86. The company had revenue of $1686.35 million for the quarter, compared to analysts expectations of $1717.11 million. The company’s revenue was down -4.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Dover Corp. Dover Corp was Upgraded by Bernstein to ” Outperform” on Jun 10, 2016. Company shares were Upgraded by Robert W. Baird on Jun 8, 2016 to ” Outperform”, Firm has raised the Price Target to $ 86 from a previous price target of $66 .Dover Corp was Upgraded by BofA/Merrill to ” Buy” on May 10, 2016.

Dover Corporation (Dover) is engaged in the manufacturing of equipment components and specialty systems. The Company also provides supporting engineering testing and other services. The Company operates through four business segments: Energy Engineered Systems Fluids and Refrigeration & Food Equipment. The Energy segment serves the Drilling & Production Bearings & Compression and Automation end markets and provides solutions and services for production and processing of oil natural gas liquids and gas around the world. The Engineered Systems segment manages its products and services through two business platforms Printing & Identification and Industrials. The Fluids segment is focused on the handling of critical fluids across the retail fueling chemical hygienic and industrial markets. The Refrigeration & Food Equipment segment provides equipment and systems serving the commercial refrigeration and food service industries.

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