Dover Co. (NYSE:DOV) Announces $0.52 Quarterly Dividend

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 0.515 per share by the industrial products company on Monday, December 16th. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%.

Dover has raised its dividend by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 70 years. Dover has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $9.41 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 21.9%.

Dover Stock Performance

Shares of DOV opened at $201.76 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $27.68 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.54 and a beta of 1.22. The firm’s fifty day simple moving average is $188.80 and its two-hundred day simple moving average is $183.55. Dover has a 12 month low of $129.63 and a 12 month high of $204.05.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of research analyst reports. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Mizuho upped their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.44.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,042 shares of company stock valued at $7,368,578 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

About Dover

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 vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.