Dover Co. (DOV) to Issue Quarterly Dividend of $0.52 on March 14th

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Investors 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 yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th.

Dover has raised its dividend by an average of 1.0% 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 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $10.29 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 20.0%.

Dover Stock Down 0.6 %

Shares of NYSE DOV opened at $198.20 on Wednesday. Dover has a 52-week low of $163.07 and a 52-week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business has a fifty day moving average of $195.54 and a two-hundred day moving average of $193.05. The stock has a market cap of $27.20 billion, a PE ratio of 10.19, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting 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, equities research analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. UBS Group decreased their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a 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 report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.