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

Dover Corporation (NYSE:DOV) saw unusually large options trading on Thursday. Traders acquired 5,440 put options on the company. This represents an increase of approximately 620% compared to the average daily volume of 756 put options.

Shares of Dover (NYSE:DOV) opened at $96.88 on Friday. Dover has a twelve month low of $73.61 and a twelve month high of $98.00. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $14,960.00, a price-to-earnings ratio of 27.07, a PEG ratio of 1.91 and a beta of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. Dover had a return on equity of 14.10% and a net margin of 8.91%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. sell-side analysts expect that Dover will post 3.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. Dover’s dividend payout ratio is presently 43.72%.

DOV has been the subject of a number of analyst reports. Robert W. Baird set a $91.00 target price on Dover and gave the stock a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and set a $94.00 target price on shares of Dover in a report on Sunday, August 27th. SunTrust Banks restated a “hold” rating and set a $90.00 target price on shares of Dover in a report on Thursday, October 12th. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Citigroup restated a “neutral” rating and set a $96.00 target price (up previously from $90.00) on shares of Dover in a report on Monday, October 9th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Dover has a consensus rating of “Hold” and an average target price of $94.69.

In other Dover news, VP William T. Bosway sold 6,087 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the sale, the vice president now owns 21,877 shares in the company, valued at $2,070,876.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Paul Goldberg sold 4,400 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $95.25, for a total value of $419,100.00. Following the sale, the vice president now owns 4,070 shares of the company’s stock, valued at approximately $387,667.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Dover by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock valued at $398,069,000 after acquiring an additional 511,469 shares during the period. Geneva Advisors LLC increased its position in shares of Dover by 25.3% in the 2nd quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 1,162 shares during the period. Nuance Investments LLC increased its position in shares of Dover by 9.5% in the 2nd quarter. Nuance Investments LLC now owns 38,146 shares of the industrial products company’s stock valued at $3,060,000 after acquiring an additional 3,310 shares during the period. Principal Financial Group Inc. increased its position in shares of Dover by 10.9% in the 2nd quarter. Principal Financial Group Inc. now owns 261,022 shares of the industrial products company’s stock valued at $20,939,000 after acquiring an additional 25,734 shares during the period. Finally, Sciencast Management LP increased its position in shares of Dover by 107.3% in the 2nd quarter. Sciencast Management LP now owns 13,029 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 6,744 shares during the period. 84.60% of the stock is currently owned by hedge funds and other institutional investors.

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About Dover

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

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