Chevy Chase Trust Holdings LLC Sells 1,709 Shares of Dover Co. (NYSE:DOV)

Chevy Chase Trust Holdings LLC cut its stake in Dover Co. (NYSE:DOV - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,893 shares of the industrial products company's stock after selling 1,709 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Dover worth $14,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versor Investments LP bought a new position in Dover in the third quarter worth about $1,920,000. Assenagon Asset Management S.A. raised its position in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock worth $17,077,000 after acquiring an additional 60,235 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock worth $34,100,000 after acquiring an additional 5,372 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company's stock valued at $2,523,000 after purchasing an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC bought a new stake in shares of Dover during the fourth quarter valued at approximately $475,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DOV. Barclays raised their price objective on Dover from $205.00 to $213.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Wolfe Research raised shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a "buy" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group lifted their target price on shares of Dover from $202.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada upped their price target on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Dover has an average rating of "Moderate Buy" and a consensus target price of $218.91.

Dover Stock Performance

Dover stock traded down $0.53 during trading on Wednesday, reaching $204.83. The company had a trading volume of 783,468 shares, compared to its average volume of 838,518. The firm's 50-day simple moving average is $195.42 and its 200 day simple moving average is $192.18. Dover Co. has a 52 week low of $159.48 and a 52 week high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. Sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. 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.