Dover Co. (NYSE:DOV) to Issue Quarterly Dividend of $0.51

Dover Co. (NYSE:DOVGet Free Report) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Shareholders of record on Thursday, February 29th will be paid a dividend of 0.51 per share by the industrial products company on Friday, March 15th. This represents a $2.04 annualized dividend and a yield of 1.27%.

Dover has increased its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 69 consecutive years. Dover has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dover to earn $9.89 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 20.6%.

Dover Trading Down 0.2 %

Shares of DOV stock traded down $0.36 during mid-day trading on Thursday, hitting $160.11. 1,036,480 shares of the company’s stock were exchanged, compared to its average volume of 976,003. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.64 and a beta of 1.26. The stock has a 50-day simple moving average of $149.85 and a two-hundred day simple moving average of $143.35. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $162.48. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOVGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $2.16 EPS. Dover’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts expect that Dover will post 9.07 EPS for the current fiscal year.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 14,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $142.00, for a total value of $1,988,000.00. Following the sale, the chief financial officer now owns 35,938 shares in the company, valued at approximately $5,103,196. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 14,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the transaction, the chief financial officer now directly owns 35,938 shares in the company, valued at $5,103,196. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony K. Kosinski sold 664 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $141.64, for a total transaction of $94,048.96. Following the sale, the vice president now owns 5,333 shares of the company’s stock, valued at approximately $755,366.12. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new stake in shares of Dover in the 1st quarter worth about $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Dover in the first quarter valued at approximately $938,000. Raymond James Trust N.A. raised its holdings in shares of Dover by 5.8% during the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after buying an additional 310 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after buying an additional 561 shares during the period. Finally, Sei Investments Co. grew its holdings in Dover by 6.1% in the 1st quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after buying an additional 8,054 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOV has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Dover from $171.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Royal Bank of Canada upped their target price on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a report on Monday. Oppenheimer upped their price target on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Barclays lifted their price objective on shares of Dover from $150.00 to $163.00 and gave the company an “equal weight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.18.

Read Our Latest Stock Report on Dover

Dover Company Profile

(Get Free Report)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

Dividend History for Dover (NYSE:DOV)

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