Dover Corporation (NYSE:DOV) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.47 per share by the industrial products company on Friday, September 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, August 29th. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44.

Dover Corporation has increased its dividend payment by an average of 5.9% annually over the last three years and has increased its dividend annually for the last 61 consecutive years. Dover Corporation has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dover Corporation to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 39.1%.

Dover Corporation (DOV) traded down 0.44% on Tuesday, hitting $86.87. 923,488 shares of the company traded hands. The firm’s 50 day moving average price is $82.25 and its 200 day moving average price is $80.55. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $87.40. The firm has a market capitalization of $13.53 billion, a PE ratio of 21.72 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The company’s revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Dover Corporation will post $4.31 EPS for the current fiscal year.

In other Dover Corporation news, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $79.85, for a total value of $1,248,694.30. Following the transaction, the vice president now owns 32,842 shares of the company’s stock, valued at approximately $2,622,433.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. Insiders sold a total of 80,638 shares of company stock worth $6,753,494 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: This story was reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The original version of this story can be read at

A number of analysts have issued reports on DOV shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $89.00) on shares of Dover Corporation in a research note on Thursday, July 6th. Citigroup Inc. lifted their price objective on Dover Corporation from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 11th. Stifel Nicolaus lifted their price objective on Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. BMO Capital Markets raised Dover Corporation from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $89.00 to $82.00 in a research note on Thursday, June 8th. Finally, Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.73.

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.

Dividend History for Dover Corporation (NYSE:DOV)

Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with's FREE daily email newsletter.