Dover Co. (NYSE:DOV) Sees Significant Decrease in Short Interest

Dover Co. (NYSE:DOV) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,320,000 shares, a decrease of 6.4% from the October 15th total of 1,410,000 shares. Based on an average trading volume of 886,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. UBS Group started coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Barclays upped their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 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. This represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $8,706,100. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,042 shares of company stock valued at $7,368,578. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Dover in the 1st quarter worth $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the third quarter worth about $33,000. McClarren Financial Advisors Inc. increased its position in Dover by 4,400.0% in the second 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 last quarter. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover during the second quarter worth $41,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.3 %

Shares of DOV traded down $0.55 on Monday, hitting $200.63. 20,572 shares of the stock traded hands, compared to its average volume of 960,911. Dover has a one year low of $136.50 and a one year high of $204.93. The company has a market capitalization of $27.52 billion, a PE ratio of 17.99, a P/E/G ratio of 2.70 and a beta of 1.22. The business has a 50 day simple moving average of $191.53 and a 200 day simple moving average of $184.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is currently 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.