Chevy Chase Trust Holdings LLC Has $14.07 Million Stock Holdings in Dover Co. (NYSE:DOV)

Chevy Chase Trust Holdings LLC decreased its position in shares of Dover Co. (NYSE:DOV) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,947 shares of the industrial products company’s stock after selling 2,433 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Dover worth $14,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DOV. LRI Investments LLC acquired a new position in Dover in the first quarter worth $28,000. Transcendent Capital Group LLC grew its holdings in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Northwest Financial Advisors acquired a new stake in Dover in the 4th quarter valued at about $36,000. North Star Investment Management Corp. raised its stake in shares of Dover by 93.0% in the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 120 shares during the last quarter. Finally, ORG Partners LLC grew its stake in shares of Dover by 620.5% during the first quarter. ORG Partners LLC now owns 281 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 242 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 1.1 %

DOV stock traded up $1.95 during midday trading on Wednesday, hitting $182.02. The company’s stock had a trading volume of 115,137 shares, compared to its average volume of 986,073. The company’s fifty day moving average price is $180.22 and its 200 day moving average price is $176.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The stock has a market capitalization of $25.02 billion, a P/E ratio of 17.30, a PEG ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. As a group, equities research analysts predict that Dover Co. will post 9.15 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. Barclays increased their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Oppenheimer lifted their price target on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Wells Fargo & Company upped their price target on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

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.