Dover Co. (NYSE:DOV) Short Interest Down 6.4% in October

Dover Co. (NYSE:DOV) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,320,000 shares, a decrease of 6.4% from the October 15th total of 1,410,000 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average trading volume of 886,200 shares, the days-to-cover ratio is presently 1.5 days.

Dover Stock Performance

Dover stock traded down $0.55 during midday trading on Monday, hitting $200.63. 20,572 shares of the company were exchanged, compared to its average volume of 960,911. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover has a fifty-two week low of $136.50 and a fifty-two week high of $204.93. The business has a fifty day simple moving average of $191.53 and a two-hundred day simple moving average of $184.76. The firm has a market capitalization of $27.52 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.03%. Dover’s dividend payout ratio is presently 18.43%.

Analyst Ratings Changes

DOV has been the topic of a number of recent research reports. UBS Group initiated coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays increased their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Buying and Selling

In other news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 12.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 over the last three months. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DOV. LRI Investments LLC purchased a new position in shares of Dover during the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover during the 3rd quarter worth approximately $33,000. McClarren Financial Advisors Inc. raised its holdings in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Dover in the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover in the second quarter worth approximately $41,000. Institutional investors and hedge funds 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.