Amalgamated Bank Sells 2,574 Shares of Dover Co. (NYSE:DOV)

Amalgamated Bank lowered its holdings in Dover Co. (NYSE:DOVGet Rating) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,081 shares of the industrial products company’s stock after selling 2,574 shares during the quarter. Amalgamated Bank’s holdings in Dover were worth $5,661,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOV. FinTrust Capital Advisors LLC purchased a new position in shares of Dover in the 1st quarter worth approximately $44,000. Fairfield Bush & CO. purchased a new position in shares of Dover in the 1st quarter worth approximately $48,000. Standard Family Office LLC purchased a new position in shares of Dover in the 1st quarter worth approximately $50,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Dover in the 1st quarter worth approximately $53,000. Finally, Jones Financial Companies Lllp grew its position in shares of Dover by 41.1% in the 1st quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock worth $54,000 after buying an additional 101 shares during the last quarter. Institutional investors own 83.96% of the company’s stock.

Dover Stock Performance

DOV opened at $125.02 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 0.87. The firm has a fifty day moving average price of $129.79 and a 200 day moving average price of $135.49. Dover Co. has a 1 year low of $116.66 and a 1 year high of $184.04. The stock has a market cap of $17.95 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.02 and a beta of 1.39.

Dover (NYSE:DOVGet Rating) last posted its earnings results on Thursday, July 21st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $2.06 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Dover Co. will post 8.5 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.505 dividend. This is a boost from Dover’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 30th. Dover’s payout ratio is currently 25.70%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Dover from $135.00 to $132.00 in a research report on Friday, July 22nd. Wells Fargo & Company boosted their target price on shares of Dover to $135.00 in a research report on Friday, July 22nd. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Barclays dropped their target price on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. Finally, Mizuho dropped their target price on shares of Dover from $175.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Dover currently has an average rating of “Hold” and an average target price of $161.17.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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