Asset Advisors Corp Lowers stake in Dover Corp (DOV)

Dover Corp (DOV) : Asset Advisors Corp reduced its stake in Dover Corp by 1.2% during the most recent quarter end. The investment management company now holds a total of 123,950 shares of Dover Corp which is valued at $8,348,033 after selling 1,500 shares in Dover Corp , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Dover Corp makes up approximately 1.80% of Asset Advisors Corp’s portfolio.

Dover Corp opened for trading at $66.72 and hit $67.9 on the upside on Friday, eventually ending the session at $67.35, with a gain of 1.00% or 0.67 points. The heightened volatility saw the trading volume jump to 12,45,085 shares. Company has a market cap of $10,449 M.

Other Hedge Funds, Including , Boston Advisors boosted its stake in DOV in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 15,701 shares of Dover Corp which is valued at $1,057,462. Dover Corp makes up approx 0.03% of Boston Advisors’s portfolio.Atria Investments boosted its stake in DOV in the latest quarter, The investment management firm added 39 additional shares and now holds a total of 5,099 shares of Dover Corp which is valued at $343,418. Dover Corp makes up approx 0.04% of Atria Investments’s portfolio.Benjamin F. Edwards Company reduced its stake in DOV by selling 113 shares or 17.44% in the most recent quarter. The Hedge Fund company now holds 535 shares of DOV which is valued at $35,299. Dover Corp makes up approx 0.01% of Benjamin F. Edwards Company’s portfolio. Mai Capital Management sold out all of its stake in DOV during the most recent quarter. The investment firm sold 3,715 shares of DOV which is valued $236,794.

On the company’s financial health, Dover Corp reported $0.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.58. The company had revenue of $1622.30 million for the quarter, compared to analysts expectations of $1590.96 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Dover Corp. Company shares were Upgraded by Seaport Global Securities on Apr 25, 2016 to ” Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $59 .Company shares were Reiterated by Barclays on Apr 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 65 from a previous price target of $63 .Dover Corp was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 21, 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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