Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) was the recipient 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. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 794,700 shares, the days-to-cover ratio is currently 2.3 days.

Dover Trading Down 1.0 %

Shares of DOV stock opened at $203.42 on Friday. The stock has a market capitalization of $27.91 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. 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 has a fifty-two week low of $148.45 and a fifty-two week high of $214.57. The company has a 50 day moving average price of $195.57 and a 200 day moving average price of $190.34.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. Equities research analysts predict that Dover will post 8.17 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors 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%.

Hedge Funds Weigh In On Dover

Several hedge funds have recently made changes to their positions in DOV. State Street Corp increased its position in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares during the period. Geode Capital Management LLC increased its holdings in shares of Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC raised its stake in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Dover by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after purchasing an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Dover by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after buying an additional 9,464 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Barclays boosted their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $218.91.

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.