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

Axxcess Wealth Management LLC decreased its stake in shares of Dover Co. (NYSE:DOV) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund 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.

Other institutional investors also recently bought and sold shares of the company. Cibc World Markets Corp boosted its holdings in shares of Dover by 16.2% during the 4th quarter. Cibc World Markets Corp now owns 21,679 shares of the industrial products company’s stock valued at $4,067,000 after purchasing an additional 3,025 shares during the last quarter. SlateStone Wealth LLC grew its holdings in Dover by 3.1% during the 4th quarter. SlateStone Wealth LLC now owns 5,770 shares of the industrial products company’s stock valued at $1,082,000 after buying an additional 175 shares in the last quarter. GWN Securities Inc. bought a new stake in Dover in the 4th quarter worth approximately $238,000. Glenview Trust co boosted its position in shares of Dover by 3.6% during the 4th quarter. Glenview Trust co now owns 8,370 shares of the industrial products company’s stock valued at $1,570,000 after acquiring an additional 288 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Dover by 9.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,297 shares of the industrial products company’s stock worth $3,245,000 after purchasing an additional 1,449 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOV. Royal Bank of Canada upped their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Barclays lifted their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

DOV stock opened at $181.38 on Friday. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The firm 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. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The firm has a 50-day simple moving average of $194.67 and a two-hundred day simple moving average of $193.45.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Dover 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.