Dover Corp (NYSE:DOV) announced a quarterly dividend on Friday, May 3rd, RTT News reports. Investors of record on Friday, May 31st will be given a dividend of 0.48 per share by the industrial products company on Monday, June 17th. This represents a $1.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 30th.

Dover has raised its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 63 years. Dover has a dividend payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dover to earn $6.21 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 30.9%.

Dover stock opened at $90.90 on Friday. Dover has a 1 year low of $65.83 and a 1 year high of $99.46. The firm has a market capitalization of $13.21 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.45 and a beta of 1.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Dover will post 5.81 EPS for the current year.

In other Dover news, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total transaction of $831,044.10. Following the sale, the vice president now owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

A number of research firms recently issued reports on DOV. SunTrust Banks lifted their price target on shares of Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of Dover from $97.00 to $101.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Oppenheimer reissued a “hold” rating on shares of Dover in a research note on Tuesday, January 29th. Finally, Citigroup set a $113.00 price target on shares of Dover and gave the company a “buy” rating in a research note on Monday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $94.10.

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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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Dividend History for Dover (NYSE:DOV)

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