Dover Sees Unusually Large Options Volume (DOV)

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Dover Corp (NYSE:DOV) was the recipient of unusually large options trading activity on Monday. Traders purchased 1,561 put options on the stock. This is an increase of 1,281% compared to the typical daily volume of 113 put options.

DOV has been the topic of several research analyst reports. Barclays dropped their price objective on shares of Dover from $97.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, December 17th. Morgan Stanley lowered shares of Dover from an “overweight” rating to an “equal” rating and dropped their price objective for the company from $94.00 to $89.00 in a research report on Tuesday, December 18th. Zacks Investment Research lowered shares of Dover from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Wolfe Research raised shares of Dover from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Finally, UBS Group raised shares of Dover from a “neutral” rating to a “buy” rating and set a $76.35 price objective on the stock in a research report on Thursday, January 10th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.03.

Shares of Dover stock opened at $96.79 on Tuesday. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.41 and a beta of 1.49. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 1.37. Dover has a 12-month low of $65.83 and a 12-month high of $97.65.

Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.14. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Dover had a net margin of 7.84% and a return on equity of 24.90%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. On average, analysts predict that Dover will post 5.73 EPS for the current fiscal year.

In other Dover news, VP William Spurgeon sold 13,102 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the sale, the vice president now directly owns 6,393 shares of the company’s stock, valued at $557,405.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jay L. Kloosterboer sold 12,363 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $87.53, for a total transaction of $1,082,133.39. Following the sale, the senior vice president now directly owns 23,827 shares in the company, valued at $2,085,577.31. The disclosure for this sale can be found here. Insiders have sold 48,200 shares of company stock worth $4,277,800 over the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Stifel Financial Corp grew its stake in Dover by 1.5% during the fourth quarter. Stifel Financial Corp now owns 72,331 shares of the industrial products company’s stock worth $5,107,000 after buying an additional 1,046 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its stake in shares of Dover by 41.5% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 75,000 shares of the industrial products company’s stock valued at $5,321,000 after purchasing an additional 22,000 shares in the last quarter. Strategic Wealth Management Group LLC acquired a new stake in shares of Dover in the 4th quarter valued at approximately $491,000. State of Alaska Department of Revenue boosted its stake in shares of Dover by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 41,726 shares of the industrial products company’s stock valued at $3,912,000 after purchasing an additional 495 shares in the last quarter. Finally, Oakbrook Investments LLC boosted its stake in shares of Dover by 84.6% in the 4th quarter. Oakbrook Investments LLC now owns 14,885 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 6,820 shares in the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

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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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