Dover Co. (NYSE:DOV) Short Interest Update

Dover Co. (NYSE:DOV) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,150,000 shares, a decline of 15.4% from the July 15th total of 2,540,000 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 2.1 days.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Dover by 15.9% during the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock valued at $176,891,000 after buying an additional 157,614 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Oppenheimer boosted their price target on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Trading Up 0.5 %

Shares of Dover stock traded up $0.86 during trading on Friday, hitting $179.83. 985,084 shares of the company were exchanged, compared to its average volume of 996,871. The firm has a market capitalization of $24.71 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The firm’s fifty day moving average price is $180.09 and its 200 day moving average price is $175.97. Dover has a 1-year low of $127.25 and a 1-year high of $192.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. As a group, sell-side analysts expect that Dover will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date is Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.15%. 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.