Amalgamated Bank Sells 544 Shares of Dover Co. (NYSE:DOV)

Amalgamated Bank decreased its holdings in Dover Co. (NYSE:DOV) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,071 shares of the industrial products company’s stock after selling 544 shares during the period. Amalgamated Bank’s holdings in Dover were worth $5,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Dover in the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover during the 3rd quarter valued at $33,000. R Squared Ltd bought a new stake in Dover in the fourth quarter worth $34,000. Kieckhefer Group LLC purchased a new position in Dover during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer restated an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Wells Fargo & Company increased their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Barclays raised their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of Dover stock opened at $196.47 on Friday. Dover Co. has a one year low of $163.32 and a one year high of $222.31. The company has a market capitalization of $26.96 billion, a PE ratio of 10.10, a P/E/G ratio of 2.06 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. The company has a 50-day simple moving average of $195.86 and a two-hundred day simple moving average of $193.11.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Dover 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.