Dover Co. (NYSE:DOV) Short Interest Up 36.1% in December

Dover Co. (NYSE:DOV) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,810,000 shares, a growth of 36.1% from the December 15th total of 1,330,000 shares. Based on an average daily volume of 794,700 shares, the short-interest ratio is presently 2.3 days. Approximately 1.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $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 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC grew its position in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Dover by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after buying an additional 17,193 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOV. UBS Group began coverage on shares of Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday. Barclays increased their target price on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.55.

Dover Price Performance

Shares of NYSE DOV opened at $190.88 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover has a twelve month low of $143.96 and a twelve month high of $208.26. The business has a 50 day simple moving average of $196.66 and a 200-day simple moving average of $188.77. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s payout ratio is 18.43%.

About Dover

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.