Gavekal Capital adds Dover Corp (DOV) to its portfolio

Dover Corp (DOV) : Gavekal Capital added new position in Dover Corp during the most recent quarter end. The investment management firm now holds 205,375 shares of Dover Corp which is valued at $13,550,643 , the company said in a statement filed on Apr 12, 2016 with the SEC.Dover Corp makes up approximately 4.91% of Gavekal Capital’s portfolio.

Dover Corp closed down -0.08 points or -0.12% at $65.98 with 9,71,859 shares getting traded on Friday. Post opening the session at $65.97, the shares hit an intraday low of $65.7101 and an intraday high of $66.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Salem Capital Management Inc boosted its stake in DOV in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 10,750 shares of Dover Corp which is valued at $709,285. Dover Corp makes up approx 0.39% of Salem Capital Management Inc’s portfolio.Fruth Investment Management reduced its stake in DOV by selling 200 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 10,725 shares of DOV which is valued at $683,612. Dover Corp makes up approx 0.35% of Fruth Investment Management’s portfolio.

On the company’s financial health, Dover Corp reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $0.74. The company had revenue of $1694.60 million for the quarter, compared to analysts expectations of $1653.21 million. The company’s revenue was down -14.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Many Wall Street Analysts have commented on Dover Corp. Dover Corp was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 21, 2016. Shares were Reiterated by RBC Capital Mkts on Mar 16, 2016 to “Sector Perform” and Lowered the Price Target to $ 59 from a previous price target of $62 .Company shares were Reiterated by Barclays on Jan 27, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 58 from a previous price target of $56 .

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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