Dover Corporation Target of Unusually High Options Trading (DOV)
Dover Corporation (NYSE:DOV) was the recipient of unusually large options trading on Friday. Investors bought 7,044 put options on the stock. This is an increase of Infinity compared to the typical daily volume of 0 put options.
In other Dover Corporation news, Director Michael B. Stubbs sold 41,505 shares of Dover Corporation stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Goldberg sold 4,400 shares of Dover Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $95.25, for a total value of $419,100.00. Following the transaction, the vice president now directly owns 4,070 shares in the company, valued at $387,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 54,400 shares of company stock worth $5,207,952 over the last ninety days. Company insiders own 2.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Dover Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after purchasing an additional 370,572 shares in the last quarter. BlackRock Inc. increased its holdings in Dover Corporation by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after purchasing an additional 389,449 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Dover Corporation by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock worth $531,702,000 after purchasing an additional 848,098 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Dover Corporation by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock worth $513,046,000 after purchasing an additional 14,504 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Dover Corporation by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock worth $292,968,000 after purchasing an additional 73,375 shares in the last quarter. 85.01% of the stock is owned by hedge funds and other institutional investors.
Dover Corporation (NYSE DOV) opened at $93.61 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. The firm has a market capitalization of $14,611.65, a P/E ratio of 25.98, a P/E/G ratio of 1.83 and a beta of 1.28. Dover Corporation has a 52 week low of $68.10 and a 52 week high of $97.09.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. analysts anticipate that Dover Corporation will post 3.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 29th. Dover Corporation’s dividend payout ratio is currently 43.72%.
Several brokerages have commented on DOV. Zacks Investment Research downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. SunTrust Banks, Inc. reissued a “hold” rating and issued a $96.00 price objective on shares of Dover Corporation in a research note on Monday, October 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $92.00 price objective on shares of Dover Corporation in a research note on Tuesday, October 17th. BidaskClub downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $106.00 price objective (up from $97.00) on shares of Dover Corporation in a research note on Monday, October 2nd. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.69.
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Dover Corporation Company Profile
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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