Short Interest in Dover Corp (NYSE:DOV) Decreases By 7.1%

Dover Corp (NYSE:DOV) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 3,680,000 shares, a drop of 7.1% from the December 15th total of 3,960,000 shares. Based on an average trading volume of 866,900 shares, the days-to-cover ratio is presently 4.2 days. Currently, 2.6% of the shares of the stock are short sold.

In other Dover news, Director Kristiane C. Graham sold 13,596 shares of Dover stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $105.07, for a total transaction of $1,428,531.72. Following the transaction, the director now directly owns 356,704 shares of the company’s stock, valued at $37,478,889.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,055 shares of Dover stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $112.48, for a total transaction of $456,106.40. Insiders have sold 25,210 shares of company stock worth $2,712,287 over the last three months. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. Horan Capital Advisors LLC. bought a new position in Dover in the third quarter valued at approximately $25,000. Sandy Spring Bank bought a new position in shares of Dover during the third quarter worth $26,000. Quest Capital Management Inc. ADV bought a new position in shares of Dover during the third quarter worth $30,000. Simon Quick Advisors LLC bought a new position in shares of Dover during the fourth quarter worth $36,000. Finally, CSat Investment Advisory L.P. boosted its position in shares of Dover by 72.8% during the second quarter. CSat Investment Advisory L.P. now owns 432 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 182 shares in the last quarter. 86.89% of the stock is owned by hedge funds and other institutional investors.

DOV has been the topic of several analyst reports. Barclays lifted their target price on shares of Dover from $112.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley lifted their target price on shares of Dover from $114.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada set a $96.00 target price on shares of Dover and gave the stock a “hold” rating in a research note on Friday, October 18th. Deutsche Bank lifted their target price on shares of Dover from $107.00 to $119.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Dover currently has an average rating of “Hold” and a consensus price target of $109.11.

Shares of NYSE DOV traded up $0.83 during midday trading on Thursday, hitting $118.44. 162,161 shares of the company’s stock traded hands, compared to its average volume of 589,125. Dover has a 1 year low of $77.41 and a 1 year high of $118.33. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.97 and a current ratio of 1.42. The firm has a fifty day moving average of $114.29 and a 200 day moving average of $102.79.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.09. Dover had a return on equity of 29.62% and a net margin of 9.08%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. Dover’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that Dover will post 5.85 earnings per share for the current year.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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