Amalgamated Bank Sells 2,367 Shares of Dover Co. (NYSE:DOV)

Amalgamated Bank lowered its stake in Dover Co. (NYSE:DOV) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,084 shares of the industrial products company’s stock after selling 2,367 shares during the quarter. Amalgamated Bank’s holdings in Dover were worth $5,396,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Orion Capital Management LLC bought a new position in shares of Dover during the 3rd quarter worth about $32,000. Headinvest LLC acquired a new stake in Dover in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover during the fourth quarter valued at approximately $33,000. AdvisorNet Financial Inc raised its position in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the period. Finally, Life Planning Partners Inc bought a new stake in Dover during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock worth $4,318,059 in the last ninety days. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOV. Oppenheimer boosted their target price 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. Mizuho raised their target price on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Price Performance

DOV opened at $181.73 on Tuesday. The firm has a 50-day moving average price of $173.78 and a 200-day moving average price of $156.19. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.84 and a beta of 1.25. Dover Co. has a twelve month low of $127.25 and a twelve month high of $182.33. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business earned $1.94 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts expect that Dover Co. will post 9.1 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, May 31st. Dover’s dividend payout ratio is presently 19.60%.

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.