Dover Co. (NYSE:DOV) Sees Significant Increase in Short Interest

Dover Co. (NYSE:DOV - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,810,000 shares, an increase of 36.1% from the December 15th total of 1,330,000 shares. Based on an average daily volume of 794,700 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wolfe Research raised shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Barclays boosted their price target on Dover from $190.00 to $205.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price objective on Dover from $212.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their target price on Dover from $205.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group began coverage on shares of Dover in a report on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and an average target price of $212.55.

Hedge Funds Weigh In On Dover

Several large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Dover in the third quarter valued at about $33,000. Fairscale Capital LLC acquired a new stake in shares of Dover in the second quarter worth $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover during the 4th quarter worth $38,000. Avior Wealth Management LLC lifted its position in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company's stock worth $49,000 after acquiring an additional 167 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in Dover during the third quarter valued at about $50,000. Institutional investors own 84.46% of the company's stock.

Dover Price Performance

DOV traded up $2.53 during trading on Thursday, reaching $193.27. The stock had a trading volume of 327,483 shares, compared to its average volume of 721,317. The stock has a 50 day moving average of $196.43 and a two-hundred day moving average of $188.79. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. Dover has a 1-year low of $143.96 and a 1-year high of $208.26.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. Dover's dividend payout ratio (DPR) is 18.43%.

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.