Dover Corporation (DOV) to Issue Quarterly Dividend of $0.52 on March 13th

Dover Corporation (NYSE:DOV) announced a quarterly dividend on Thursday, February 12th. Investors of record on Friday, February 27th will be paid a dividend of 0.52 per share by the industrial products company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th.

Dover has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 70 years. Dover has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $10.29 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 20.2%.

Dover Trading Up 0.4%

Dover stock opened at $231.54 on Friday. Dover has a one year low of $143.04 and a one year high of $237.54. The company’s fifty day moving average price is $205.32 and its two-hundred day moving average price is $186.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.77 and a beta of 1.29.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley set a $210.00 price objective on shares of Dover in a report on Wednesday, February 4th. Barclays set a $206.00 price objective on Dover in a research report on Monday, February 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of Dover in a report on Saturday, January 31st. BNP Paribas Exane began coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.