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

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

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 70 consecutive years. Dover has a payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.4 %

Shares of NYSE DOV traded down $0.80 during trading hours on Thursday, hitting $201.76. The company’s stock had a trading volume of 749,563 shares, compared to its average volume of 974,779. Dover has a 12 month low of $129.63 and a 12 month high of $204.05. The stock has a market cap of $27.68 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The business has a 50-day simple moving average of $188.43 and a 200-day simple moving average of $183.42.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Barclays lifted their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.44.

Insider Activity at Dover

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