Dover Corp (NYSE:DOV) announced a quarterly dividend on Friday, February 14th, RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.49 per share by the industrial products company on Monday, March 16th. This represents a $1.96 annualized dividend and a yield of 1.63%.
Dover has raised its dividend by an average of 2.5% annually over the last three years and has increased its dividend every year for the last 64 years. Dover has a dividend payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 29.3%.
DOV stock traded up $0.34 during trading hours on Friday, hitting $119.90. The company’s stock had a trading volume of 41,728 shares, compared to its average volume of 853,791. The company has a quick ratio of 1.00, a current ratio of 1.46 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $17.37 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.51. Dover has a 12 month low of $87.07 and a 12 month high of $120.20. The stock has a 50 day moving average price of $116.89 and a two-hundred day moving average price of $105.36.
Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $1.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.80 billion. Dover had a net margin of 9.50% and a return on equity of 29.46%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. Sell-side analysts expect that Dover will post 6.33 earnings per share for the current year.
In related news, SVP Ivonne M. Cabrera sold 4,055 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $112.48, for a total transaction of $456,106.40. Also, VP William Spurgeon sold 6,559 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.48, for a total transaction of $718,079.32. Following the sale, the vice president now directly owns 5,296 shares of the company’s stock, valued at $579,806.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,114 shares of company stock valued at $1,234,186. 1.70% of the stock is owned by insiders.
Several analysts have commented on the stock. Royal Bank of Canada set a $96.00 target price on shares of Dover and gave the stock a “hold” rating in a research report on Friday, October 18th. Barclays reissued a “buy” rating and issued a $130.00 target price on shares of Dover in a research report on Friday, January 31st. Robert W. Baird boosted their target price on shares of Dover from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Citigroup boosted their target price on shares of Dover from $115.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $114.38.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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