Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,410,000 shares, a decline of 10.2% from the September 30th total of 1,570,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 904,800 shares, the days-to-cover ratio is presently 1.6 days.

Dover Stock Down 0.3 %

Shares of DOV opened at $191.84 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. Dover has a 1 year low of $127.25 and a 1 year high of $195.68. The business’s 50 day simple moving average is $187.25 and its 200-day simple moving average is $182.56.

Dover Increases Dividend

The firm 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. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. Dover’s dividend payout ratio is presently 19.79%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DOV shares. Royal Bank of Canada lifted their target price 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. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays boosted their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.44.

Insider Activity at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dover

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC bought a new position in shares of Dover in the 1st quarter valued at about $28,000. McClarren Financial Advisors Inc. boosted its holdings in shares of 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 during the period. Fairscale Capital LLC bought a new position in Dover during the second quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new position in Dover during the 2nd quarter valued at about $41,000. Finally, Transcendent Capital Group LLC grew its stake in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.