Short Interest in Dover Co. (NYSE:DOV) Declines By 14.4%

Dover Co. (NYSE:DOV) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,130,000 shares, a decrease of 14.4% from the October 31st total of 1,320,000 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 908,200 shares, the short-interest ratio is presently 1.2 days.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dover

Several institutional investors and hedge funds have recently made changes to their positions in DOV. LRI Investments LLC bought a new stake in Dover during the first quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its position in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Dover during the third quarter worth approximately $33,000. Fairscale Capital LLC bought a new stake in Dover in the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Dover in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOV shares. Oppenheimer reiterated an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays increased their price target on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Dover Price Performance

Shares of DOV opened at $204.79 on Tuesday. The business has a 50-day simple moving average of $195.11 and a two-hundred day simple moving average of $186.22. Dover has a 12-month low of $141.18 and a 12-month high of $208.26. The stock has a market cap of $28.10 billion, a PE ratio of 18.35, a PEG ratio of 2.77 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

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.