Dover Corp (NYSE:DOV) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 4,365,000 shares, a growth of 15.6% from the April 30th total of 3,777,500 shares. Based on an average trading volume of 942,500 shares, the short-interest ratio is currently 4.6 days. Approximately 3.1% of the company’s stock are short sold.
DOV traded up $0.58 during trading on Wednesday, hitting $96.94. 507,824 shares of the stock were exchanged, compared to its average volume of 1,016,101. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.48. Dover has a 1-year low of $65.83 and a 1-year high of $99.46. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.
Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.12 by $0.12. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities analysts expect that Dover will post 5.81 EPS for the current fiscal year.
Several brokerages have recently weighed in on DOV. Morgan Stanley raised their target price on Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Citigroup set a $113.00 target price on Dover and gave the stock a “buy” rating in a research report on Monday, April 22nd. ValuEngine raised Dover from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank set a $102.00 target price on Dover and gave the stock a “hold” rating in a research report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $94.10.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Advisors Asset Management Inc. lifted its position in shares of Dover by 2.6% during the 4th quarter. Advisors Asset Management Inc. now owns 21,061 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 541 shares during the last quarter. BB&T Securities LLC raised its stake in shares of Dover by 5.6% during the 4th quarter. BB&T Securities LLC now owns 11,880 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 630 shares during the period. Chicago Equity Partners LLC raised its stake in shares of Dover by 50.9% during the 4th quarter. Chicago Equity Partners LLC now owns 9,625 shares of the industrial products company’s stock valued at $683,000 after purchasing an additional 3,245 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Dover by 3.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,053 shares of the industrial products company’s stock valued at $1,210,000 after purchasing an additional 647 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Dover by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 48,343 shares of the industrial products company’s stock valued at $3,430,000 after purchasing an additional 314 shares during the period. 84.83% of the stock is currently owned by institutional investors.
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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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