Dover Co. (NYSE:DOV) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in Dover Co. (NYSE:DOV) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,893 shares of the industrial products company’s stock after selling 1,709 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Dover worth $14,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Dover in the third quarter valued at about $1,920,000. Assenagon Asset Management S.A. increased its holdings in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares in the last quarter. Empowered Funds LLC increased its holdings in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares in the last quarter. Finally, TrueWealth Advisors LLC purchased a new position in Dover in the fourth quarter valued at about $475,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOV. Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their price objective 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. UBS Group dropped their price objective 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. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Down 0.1 %

Shares of NYSE DOV opened at $202.46 on Monday. Dover Co. has a 1 year low of $159.48 and a 1 year high of $222.31. The firm’s 50 day moving average price is $195.26 and its 200 day moving average price is $191.72. The firm has a market cap of $27.78 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 2.03 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.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, sell-side analysts anticipate that Dover Co. will post 9.47 earnings per share for the current year.

Dover Announces Dividend

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 dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 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.