Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) saw a large growth in short interest during 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. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 946,500 shares, the days-to-cover ratio is presently 2.9 days.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’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 value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’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 value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $8,169,883 in the last quarter. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Dover

Hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Dover during the first quarter valued at $27,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Dover by 4,400.0% during 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 in the last quarter. Fairscale Capital LLC bought a new position in shares of Dover during the second quarter valued at $34,000. Transcendent Capital Group LLC lifted its holdings in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the second quarter valued at $41,000. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV stock opened at $185.06 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $180.93 and its 200 day moving average is $178.85. Dover has a twelve month low of $127.25 and a twelve month high of $192.31. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts expect that Dover will post 9.17 EPS for the current fiscal 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 $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.11%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. Dover’s payout ratio is 19.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DOV shares. Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Finally, Royal Bank of Canada boosted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. 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.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price 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.