Dover Co. (NYSE: DOV) saw a sharp drop in short-term interest in November. As of November 15, there was short interest totaling 1,470,000 shares, a decrease of 25.4% from the October 31 total of 1,970,000 shares. Based on an average daily trading volume of 666,600 shares, the short-term interest ratio is currently 2.2 days. Currently 1.0% of the company’s shares are sold short.
DOV stock traded up $ 0.58 during the midday Friday session, reaching $ 167.01. 855,231 shares of the stock traded for an average volume of 592,067. The company has a market capitalization of $ 24.05 billion, a P / E ratio of 25.73, a PEG ratio of 1.93 and A beta of 1.38. The company has a leverage ratio of 0.79, a current ratio of 1.64, and a quick ratio of 1.12. The stock’s fifty-day simple moving average is $ 167.44 and its 200-day simple moving average is $ 162.81. Dover has a one-year low at $ 115.88 and a one-year high at $ 178.32.
Dover (NYSE: DOV) last reported its results on Monday, October 18. The industrials company reported earnings per share (EPS) of $ 1.98 for the quarter, beating Thomson Reuters consensus estimate of $ 1.85 by $ 0.13. Dover had a net margin of 12.25% and a return on equity of 29.67%. The company posted revenue of $ 2.02 billion for the quarter, compared to analysts’ estimates of $ 1.99 billion. In the same quarter of last year, the company made earnings per share of $ 1.60. The company’s revenue for the quarter increased 15.4% from the same quarter last year. On average, research analysts predict Dover will post 7.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 14. Shareholders of record on Tuesday, November 30 will receive a dividend of $ 0.50. The ex-dividend date of this dividend is Monday, November 29. This represents an annualized dividend of $ 2.00 and a dividend yield of 1.20%. Dover’s dividend payout ratio (DPR) is 30.82%.
Meanwhile, Vice President Anthony K. Kosinski sold 1,645 shares of the company in a transaction on Tuesday, November 2. The stock was sold for an average price of $ 170.82, for a total trade of $ 280,998.90. The sale was disclosed in a document filed with the SEC, which can be accessed via this link. Additionally, CFO Brad M. Cerepak sold 20,033 shares of the company in a trade on Wednesday, December 1. The shares were sold for an average price of $ 166.48, for a total value of $ 3,335,093.84. Disclosure of this sale can be found here. Company insiders own 0.97% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in DOV. Mascoma Wealth Management LLC acquired a new equity interest in Dover shares in the third quarter valued at approximately $ 29,000. Heritage Wealth Advisors increased its position in Dover stocks by 681.8% in the third quarter. Heritage Wealth Advisors now owns 258 shares of the industrials company valued at $ 40,000 after purchasing an additional 225 shares during the period. Glassman Wealth Services increased its position in Dover stocks by 361.4% in the third quarter. Glassman Wealth Services now owns 263 shares of the industrials company valued at $ 41,000 after purchasing an additional 206 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Dover shares in the third quarter valued at approximately $ 42,000. Finally, Harvest Fund Management Co. Ltd. increased its stake in Dover shares by 334.8% in the second quarter. Harvest Fund Management Co. Ltd. now owns 287 shares of the industrials company valued at $ 43,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds hold 83.40% of the company’s shares.
A number of equity research analysts have weighed on the company recently. Vertical Research assumed coverage of Dover in a research report on Friday, October 8. They set a “sell” rating and a target price of $ 152.00 for the stock. The Royal Bank of Canada raised its price target on Dover from $ 163.00 to $ 171.00 and gave the company a “sector performance” rating in a research report published on Wednesday, October 20. Deutsche Bank Aktiengesellschaft raised its price target on Dover from $ 173.00 to $ 187.00 and gave the company a “hold” rating in a research report published on Wednesday, October 20. Robert W. Baird raised his price target on Dover from $ 176.00 to $ 193.00 and gave the stock an “outperformance” rating in a report released on Wednesday, October 20. They noted that the move was an appraisal call. Finally, Citigroup raised its price target on Dover from $ 185.00 to $ 196.00 and gave the stock a “buy” rating in a report released on Wednesday, October 20. Two research analysts rated the stock with a sell rating, five assigned a conservation rating, and five assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 172.83.
Dover Company Profile
Dover Corp. is dedicated to the manufacture of specialized equipment, components and systems. The company also provides support engineering, testing and other similar services. It operates in the following segments: engineering products, refueling solutions, imaging and identification, pumps and process solutions, and refrigeration and power equipment.
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