Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,810,000 shares, a growth of 36.1% from the December 31st total of 1,330,000 shares. Based on an average daily trading volume, of 794,700 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.3% of the shares of the company are sold short.

Analyst Ratings Changes

DOV has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup decreased their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lifted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday. Finally, Barclays boosted their target price on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Price Performance

NYSE:DOV opened at $203.42 on Friday. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.03 and a beta of 1.23. The company has a 50-day moving average of $195.57 and a 200-day moving average of $190.34. Dover has a 52 week low of $148.45 and a 52 week high of $214.57. 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 (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. As a group, equities research analysts anticipate that Dover will post 8.17 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.01%. Dover’s dividend payout ratio is currently 18.43%.

Institutional Investors Weigh In On Dover

Several institutional investors and hedge funds have recently made changes to their positions in DOV. Public Sector Pension Investment Board lifted its holdings in Dover by 71.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,259 shares of the industrial products company’s stock valued at $949,000 after purchasing an additional 2,191 shares during the last quarter. AQR Capital Management LLC grew its position in Dover by 12.0% during the 2nd quarter. AQR Capital Management LLC now owns 48,379 shares of the industrial products company’s stock worth $8,730,000 after acquiring an additional 5,194 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Dover in the 2nd quarter valued at $3,175,000. Cannon Financial Strategists Inc. bought a new position in shares of Dover in the second quarter valued at about $279,000. Finally, Czech National Bank lifted its position in Dover by 6.9% during the 3rd quarter. Czech National Bank now owns 28,001 shares of the industrial products company’s stock worth $5,369,000 after buying an additional 1,812 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.