Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 2,730,000 shares, an increase of 52.5% from the August 15th total of 1,790,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 946,500 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock worth $8,169,883 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its holdings in Dover by 5.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after buying an additional 62 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after acquiring an additional 63 shares during the last quarter. CWM LLC boosted its position in shares of Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 68 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Dover by 4.1% during the 4th quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.9 %

Shares of DOV opened at $185.06 on Monday. The business has a 50-day moving average of $180.93 and a 200 day moving average of $178.85. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The firm has a market cap of $25.44 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, research analysts forecast that Dover will post 9.17 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 19.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOV shares. Mizuho raised their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.63.

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.