Amalgamated Bank Has $5.06 Million Stock Holdings in Dover Co. (NYSE:DOV)

Amalgamated Bank reduced its stake in Dover Co. (NYSE:DOV) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,014 shares of the industrial products company’s stock after selling 908 shares during the quarter. Amalgamated Bank’s holdings in Dover were worth $5,055,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOV. LRI Investments LLC acquired a new stake in shares of Dover during the first quarter worth $28,000. McClarren Financial Advisors Inc. raised its stake in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Dover in the 2nd quarter valued at about $41,000. Transcendent Capital Group LLC grew its position in shares of 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 purchasing an additional 156 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in shares of Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

DOV stock opened at $189.12 on Friday. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $181.73 and a 200-day moving average price of $179.28. The firm has a market cap of $25.99 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio is 19.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Robert W. Baird reiterated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada increased their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Mizuho upped their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.63.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. 1.30% of the stock is owned by company insiders.

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.