Dover Corporation (NYSE:DOV) Short Interest Down 15.1% in January

Dover Corporation (NYSE:DOV) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 3,619,473 shares, a decrease of 15.1% from the December 31st total of 4,261,046 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 1,080,309 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily volume of 1,080,309 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.7% of the shares of the company are sold short.

Dover Price Performance

Shares of NYSE DOV traded up $4.21 during mid-day trading on Tuesday, reaching $211.53. 1,819,184 shares of the company were exchanged, compared to its average volume of 1,262,037. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The company’s 50 day moving average price is $199.14 and its 200 day moving average price is $184.21. The stock has a market capitalization of $29.01 billion, a PE ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.29. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is 26.20%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DOV shares. Barclays set a $206.00 price objective on Dover in a report on Monday. Oppenheimer increased their price target on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Robert W. Baird set a $255.00 price objective on shares of Dover in a research note on Friday. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $224.00 price target on shares of Dover in a research report on Saturday. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.75.

Insider Buying and Selling at Dover

In other news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently made changes to their positions in DOV. Vanguard Group Inc. boosted its position in Dover by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after buying an additional 120,341 shares during the period. State Street Corp lifted its stake in shares of Dover by 1.3% in the 3rd quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock valued at $1,089,961,000 after acquiring an additional 86,212 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after acquiring an additional 33,539 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after acquiring an additional 227,653 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Dover by 16.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock worth $355,458,000 after purchasing an additional 294,856 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.