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

Dover Co. (NYSE:DOV) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,090,000 shares, a growth of 22.2% from the February 13th total of 1,710,000 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 865,700 shares, the short-interest ratio is currently 2.4 days.

Dover Stock Performance

Shares of NYSE DOV traded down $2.42 during midday trading on Tuesday, hitting $180.54. The company’s stock had a trading volume of 724,251 shares, compared to its average volume of 891,315. The firm has a market cap of $24.78 billion, a P/E ratio of 9.28, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 1-year low of $168.20 and a 1-year high of $222.31. The firm’s fifty day moving average price is $194.88 and its 200-day moving average price is $193.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, sell-side analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Hedge Funds Weigh In On Dover

Hedge funds and other institutional investors have recently modified their holdings of the company. 111 Capital acquired a new stake in shares of Dover in the 4th quarter worth about $464,000. Bannerman Wealth Management Group LLC acquired a new stake in shares of Dover in the fourth quarter valued at approximately $228,000. IronOak Wealth LLC. acquired a new position in shares of Dover during the fourth quarter worth approximately $340,000. Smith Shellnut Wilson LLC ADV grew its holdings in Dover by 9.8% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 3,128 shares of the industrial products company’s stock worth $587,000 after buying an additional 278 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its holdings in Dover by 12.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,642 shares of the industrial products company’s stock worth $492,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Barclays upped their price target on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $218.91.

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.