Short Interest in Dover Co. (NYSE:DOV) Expands By 22.2%

Dover Co. (NYSE:DOV) saw a significant growth in short interest in the month of 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 daily volume of 865,700 shares, the short-interest ratio is currently 2.4 days.

Dover Stock Performance

Shares of NYSE DOV traded up $1.55 during midday trading on Wednesday, reaching $182.33. 112,950 shares of the company traded hands, compared to its average volume of 888,211. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a 50-day moving average price of $194.88 and a 200 day moving average price of $193.62. Dover has a 52 week low of $168.20 and a 52 week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DOV shares. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. increased their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. 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. Citigroup decreased their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays increased their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the last quarter. State Street Corp grew its holdings in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after purchasing an additional 74,541 shares during the last quarter. FMR LLC grew its stake in Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Dover by 31.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after acquiring an additional 524,092 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

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.