Stock Traders Purchase Large Volume of Dover Put Options (DOV)

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Dover Corp (NYSE:DOV) was the target of unusually large options trading on Wednesday. Stock investors acquired 2,997 put options on the stock. This is an increase of approximately 1,197% compared to the typical volume of 231 put options.

Dover stock opened at $83.49 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.35 and a quick ratio of 0.93. Dover has a 52 week low of $70.12 and a 52 week high of $90.26. The stock has a market cap of $13.08 billion, a P/E ratio of 20.38, a PEG ratio of 1.53 and a beta of 1.34.

Dover (NYSE:DOV) last released its earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.07. Dover had a return on equity of 18.66% and a net margin of 9.64%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Dover will post 4.82 EPS for the current fiscal year.

Several equities research analysts have weighed in on DOV shares. William Blair reissued a “market perform” rating on shares of Dover in a report on Tuesday, July 3rd. Barclays lowered their price target on Dover from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Citigroup lowered their price target on Dover from $86.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, July 11th. MED started coverage on Dover in a report on Thursday, July 12th. They issued a “hold” rating and a $79.00 price target for the company. Finally, Deutsche Bank set a $79.00 price target on Dover and gave the stock a “hold” rating in a report on Thursday, July 12th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Dover presently has a consensus rating of “Hold” and an average price target of $90.77.

In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $82.75, for a total value of $4,137,500.00. Following the completion of the sale, the director now owns 367,324 shares of the company’s stock, valued at $30,396,061. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in DOV. Boston Partners lifted its holdings in shares of Dover by 110.3% during the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after purchasing an additional 2,691,480 shares during the period. Bank of America Corp DE lifted its holdings in shares of Dover by 15.9% during the second quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after purchasing an additional 726,930 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Dover by 7,946.7% during the second quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after purchasing an additional 315,724 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Dover by 80.2% during the second quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock worth $50,925,000 after purchasing an additional 311,500 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Dover by 15.2% during the second quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock worth $170,101,000 after purchasing an additional 306,116 shares during the period. 90.73% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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