Dover Co. (DOV) to Distribute Quarterly Dividend of $0.51 on June 14th

Dover Co. (NYSE:DOV) declared a quarterly dividend on Friday, May 3rd, RTT News reports. Investors of record on Friday, May 31st will be given a dividend of 0.51 per share by the industrial products company on Friday, June 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.14%.

Dover has raised its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 69 years. Dover has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dover to earn $9.90 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 20.6%.

Dover Trading Up 0.8 %

Shares of DOV stock opened at $178.99 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock has a fifty day simple moving average of $173.44 and a two-hundred day simple moving average of $155.62. The firm has a market capitalization of $24.60 billion, a PE ratio of 17.19, a PEG ratio of 1.84 and a beta of 1.25. Dover has a 52-week low of $127.25 and a 52-week high of $182.33.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $1.94 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, analysts predict that Dover will post 9.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOV. Oppenheimer boosted their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Barclays boosted their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Robert W. Baird boosted their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Mizuho increased their price target on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Insider Activity at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

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.