Short Interest in Dover Corporation (NYSE:DOV) Decreases By 15.1%

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Dover

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Dover by 0.7% in the 4th 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 last quarter. State Street Corp lifted its stake in 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 purchasing an additional 86,212 shares during the last quarter. Geode Capital Management LLC raised its stake in Dover by 1.0% in 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. lifted its stake in shares of 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 buying an additional 227,653 shares during the last quarter. Finally, Wellington Management Group LLP grew 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 valued at $355,458,000 after buying an additional 294,856 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Up 2.1%

Shares of NYSE DOV traded up $4.36 during mid-day trading on Wednesday, hitting $216.02. The company’s stock had a trading volume of 296,456 shares, compared to its average volume of 1,304,517. The company’s fifty day simple moving average is $199.14 and its 200-day simple moving average is $184.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover has a one year low of $143.04 and a one year high of $216.87. The stock has a market cap of $29.63 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. On average, sell-side analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s payout ratio is currently 26.20%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Royal Bank Of Canada increased their price objective on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a report 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. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a research report on Saturday. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $224.00.

About Dover

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.