Axxcess Wealth Management LLC Sells 64 Shares of Dover Co. (NYSE:DOV)

Axxcess Wealth Management LLC lessened its stake in shares of Dover Co. (NYSE:DOV) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,282 shares of the industrial products company’s stock after selling 64 shares during the period. Axxcess Wealth Management LLC’s holdings in Dover were worth $1,178,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Financial Life Planners purchased a new position in shares of Dover in the 4th quarter worth about $28,000. R Squared Ltd purchased a new position in Dover in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC purchased a new position in Dover in the 4th quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DOV shares. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of DOV opened at $181.38 on Friday. The business has a 50-day simple moving average of $194.67 and a two-hundred day simple moving average of $193.45. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Dover Company Profile

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.