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

Dover Co. (NYSE:DOV) announced a quarterly dividend on Friday, August 2nd, RTT News reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.515 per share by the industrial products company on Monday, September 16th. This represents a $2.06 annualized dividend and a yield of 1.17%. This is an increase from Dover’s previous quarterly dividend of $0.51.

Dover has increased its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend annually for the last 69 consecutive years. Dover has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $9.81 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 20.8%.

Dover Price Performance

Shares of DOV stock traded down $3.65 during trading hours on Friday, reaching $175.50. 976,755 shares of the company were exchanged, compared to its average volume of 1,016,191. The stock’s fifty day moving average is $181.31 and its two-hundred day moving average is $173.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a market cap of $24.12 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 2.19 and a beta of 1.22. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $192.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Dover will post 9.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DOV. Wells Fargo & Company boosted their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays upped their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Citigroup lifted their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Dover Company Profile

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.