Dover Co. (DOV) To Go Ex-Dividend on November 29th

Dover Co. (NYSE:DOV) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.515 per share by the industrial products company on Monday, December 16th. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th.

Dover has increased 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 70 years. Dover has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $9.37 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 22.0%.

Dover Trading Up 0.4 %

Shares of Dover stock opened at $206.31 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover has a 12-month low of $137.73 and a 12-month high of $207.74. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.76 and a beta of 1.22. The firm’s 50 day simple moving average is $193.70 and its two-hundred day simple moving average is $185.61.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective on the stock. Barclays increased their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.