Amalgamated Bank Boosts Holdings in Dover Co. (NYSE:DOV)

Amalgamated Bank raised its holdings in Dover Co. (NYSE:DOVFree Report) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,451 shares of the industrial products company’s stock after buying an additional 1,000 shares during the quarter. Amalgamated Bank’s holdings in Dover were worth $5,225,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Chartwell Investment Partners LLC lifted its stake in shares of Dover by 15.6% in the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 907 shares in the last quarter. CENTRAL TRUST Co raised its stake in Dover by 65.8% during the second quarter. CENTRAL TRUST Co now owns 2,038 shares of the industrial products company’s stock valued at $301,000 after buying an additional 809 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Dover by 10.4% during the second quarter. Handelsbanken Fonder AB now owns 79,665 shares of the industrial products company’s stock worth $11,763,000 after purchasing an additional 7,478 shares during the last quarter. Payden & Rygel grew its position in shares of Dover by 15.3% during the 2nd quarter. Payden & Rygel now owns 137,680 shares of the industrial products company’s stock valued at $20,329,000 after buying an additional 18,300 shares during the last quarter. Finally, Financial Counselors Inc. increased its position in Dover by 4.5% in the third quarter. Financial Counselors Inc. now owns 2,925 shares of the industrial products company’s stock worth $408,000 after buying an additional 126 shares during the period. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOV has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Dover from $171.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Barclays boosted their target price on Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a report on Monday. Oppenheimer raised their price objective on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada upped their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Mizuho cut their target price on shares of Dover from $165.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $168.18.

Check Out Our Latest Research Report on Dover

Dover Price Performance

Shares of DOV stock opened at $160.82 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. Dover Co. has a 52-week low of $127.25 and a 52-week high of $161.19. The firm’s 50 day moving average price is $149.46 and its two-hundred day moving average price is $143.23. The stock has a market cap of $22.50 billion, a PE ratio of 21.39, a PEG ratio of 1.59 and a beta of 1.26.

Dover (NYSE:DOVGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $2.16 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts forecast that Dover Co. will post 9.08 EPS for the current year.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the transaction, the chief financial officer now owns 35,938 shares of the company’s stock, valued at $5,103,196. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Anthony K. Kosinski sold 664 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $141.64, for a total value of $94,048.96. Following the completion of the sale, the vice president now owns 5,333 shares of the company’s stock, valued at $755,366.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $142.00, for a total value of $1,988,000.00. Following the completion of the transaction, the chief financial officer now directly owns 35,938 shares of the company’s stock, valued at approximately $5,103,196. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

About Dover

(Free Report)

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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