Dover Co. (NYSE:DOV) Sees Large Increase in Short Interest

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

Dover Stock Up 0.3 %

Shares of NYSE DOV opened at $195.00 on Friday. The stock has a fifty day moving average price of $196.15 and a 200 day moving average price of $188.95. The company has a market cap of $26.75 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.15 and a beta of 1.23. Dover has a 12-month low of $144.63 and a 12-month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.06%. Dover’s payout ratio is currently 18.43%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Citigroup dropped 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. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group began coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $212.55.

Hedge Funds Weigh In On Dover

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Dover during the third quarter worth $33,000. Fairscale Capital LLC purchased a new stake in Dover during the 2nd quarter worth $34,000. Kieckhefer Group LLC purchased a new position in Dover in the 4th quarter valued at about $38,000. Avior Wealth Management LLC grew its stake in shares of Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of Dover during the third quarter worth about $50,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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.