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

Dover Co. (NYSE:DOV - Get Free Report) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.515 per share by the industrial products company on Friday, March 14th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, February 28th.

Dover has raised its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 70 consecutive years. Dover has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $10.24 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 20.1%.

Dover Trading Down 0.1 %

Shares of NYSE:DOV traded down $0.23 during trading on Monday, reaching $202.46. The stock had a trading volume of 571,479 shares, compared to its average volume of 939,736. The business has a fifty day moving average price of $195.27 and a 200-day moving average price of $191.88. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $27.78 billion, a P/E ratio of 10.41, a PEG ratio of 2.03 and a beta of 1.24. Dover has a fifty-two week low of $159.48 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts' consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts anticipate that Dover will post 9.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on DOV shares. Wells Fargo & Company upped their price target on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Citigroup dropped their price target on shares of Dover from $236.00 to $222.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Wolfe Research raised shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Royal Bank of Canada upped their price target on shares of Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have issued 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 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.