Investors Purchase High Volume of Dover Put Options (DOV)
Dover Corporation (NYSE:DOV) saw unusually large options trading activity on Thursday. Investors purchased 5,440 put options on the stock. This represents an increase of 620% compared to the average daily volume of 756 put options.
Several analysts have weighed in on DOV shares. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Tuesday, October 17th. BMO Capital Markets reissued a “buy” rating and issued a $94.00 price target on shares of Dover in a research note on Sunday, August 27th. Robert W. Baird set a $91.00 price target on shares of Dover and gave the stock a “buy” rating in a research note on Thursday, August 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $91.00 price target on shares of Dover in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $92.00 price target on shares of Dover in a research note on Tuesday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $94.69.
In other Dover news, VP Paul Goldberg sold 2,430 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total value of $227,205.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The disclosure for this sale can be found here. Insiders sold 65,276 shares of company stock valued at $6,234,042 over the last quarter. 2.50% of the stock is owned by company insiders.
Dover (NYSE:DOV) opened at $96.88 on Friday. The company has a market cap of $15,093.03, a PE ratio of 26.84, a PEG ratio of 1.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. Dover has a one year low of $73.61 and a one year high of $98.00.
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. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. sell-side analysts predict that Dover will post 3.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 29th. Dover’s dividend payout ratio (DPR) is 43.72%.
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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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