Xponance Inc. Boosts Stake in Dover Co. (NYSE:DOV)

Xponance Inc. lifted its holdings in shares of Dover Co. (NYSE:DOV) by 8.0% during the fourth quarter, Holdings Channel reports. The fund owned 20,489 shares of the industrial products company’s stock after purchasing an additional 1,511 shares during the quarter. Xponance Inc.’s holdings in Dover were worth $3,844,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Financial Life Planners purchased a new stake in Dover during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Dover during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Dover in the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $181.38 on Friday. The firm’s 50 day moving average is $194.67 and its two-hundred day moving average is $193.45. The firm has a market capitalization of $24.89 billion, a P/E ratio of 9.33, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 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.

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

Dover Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOV. JPMorgan Chase & Co. upped their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup reduced their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

About Dover

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.