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

Amalgamated Bank lessened its stake in shares of Dover Co. (NYSE:DOV) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares in the last quarter. National Bank of Canada FI raised its holdings in Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after buying an additional 144,930 shares during the last quarter. Barclays PLC lifted its stake in shares of Dover by 26.6% in the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after buying an additional 75,670 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares during the last quarter. Finally, State Street Corp increased its position in shares of Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.6 %

Shares of DOV stock opened at $196.47 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market cap of $26.96 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 1 year low of $163.32 and a 1 year high of $222.31. The firm has a fifty day moving average price of $195.86 and a 200-day moving average price of $193.11.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

Several analysts have commented on DOV shares. UBS Group cut their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

About Dover

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.