Dover Corp Declares Quarterly Dividend of $0.47 (DOV)

Dover Corp (NYSE:DOV) announced a quarterly dividend on Monday, February 12th, Wall Street Journal reports. Shareholders of record on Wednesday, February 28th will be given a dividend of 0.47 per share by the industrial products company on Thursday, March 15th. This represents a $1.88 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, February 27th.

Dover has raised its dividend payment by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Dover has a payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $6.36 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 29.6%.

Dover (NYSE DOV) traded up $0.92 during trading hours on Monday, reaching $98.27. 1,052,796 shares of the company’s stock traded hands, compared to its average volume of 1,278,041. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40. The stock has a market cap of $15,033.21, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. Dover has a 52-week low of $75.51 and a 52-week high of $109.06.

Dover (NYSE:DOV) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. analysts expect that Dover will post 5.85 earnings per share for the current year.

Several equities research analysts have recently issued reports on DOV shares. BMO Capital Markets restated a “buy” rating on shares of Dover in a research note on Friday, January 26th. Zacks Investment Research upgraded 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. Royal Bank of Canada restated a “hold” rating and set a $105.00 price target on shares of Dover in a research note on Wednesday, January 17th. Stifel Nicolaus restated a “hold” rating and set a $112.00 price target (up previously from $100.00) on shares of Dover in a research note on Tuesday, January 16th. Finally, ValuEngine lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $104.42.

In related news, VP Paul Goldberg sold 2,430 shares of Dover stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William T. Bosway sold 6,087 shares of Dover stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the transaction, the vice president now owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The disclosure for this sale can be found here. Insiders sold a total of 10,876 shares of company stock valued at $1,026,090 over the last quarter. 2.50% of the stock is owned by company insiders.

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About Dover

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 (NYSE:DOV)

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