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

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.515 per share by the industrial products company on Friday, March 14th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th.

Dover has increased its dividend by an average of 1.0% annually over the last three years and has raised its dividend every year for the last 70 years. Dover has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Dover to earn $10.29 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 20.0%.

Dover Stock Performance

Shares of NYSE:DOV opened at $198.20 on Wednesday. The firm’s 50 day simple moving average is $195.54 and its 200 day simple moving average is $193.05. Dover has a fifty-two week low of $163.07 and a fifty-two week high of $222.31. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, sell-side analysts forecast that Dover will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays increased their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

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.