Short Interest in Dover Co. (NYSE:DOV) Expands By 52.5%

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DOV shares. Mizuho lifted their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped 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 reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Dover during the 1st quarter worth about $28,000. McClarren Financial Advisors Inc. grew its holdings 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 valued at $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Dover in the second quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover during the 2nd quarter worth approximately $41,000. Finally, Transcendent Capital Group LLC lifted its position in shares of Dover by 208.0% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.9 %

Shares of DOV stock opened at $185.06 on Friday. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The firm has a market capitalization of $25.44 billion, a PE ratio of 17.78, a P/E/G 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. The stock’s 50-day simple moving average is $180.93 and its 200-day simple moving average is $178.65.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts expect that Dover will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

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.