Dover Corp (NYSE:DOV) declared a quarterly dividend on Monday, February 12th, Wall Street Journal reports. Shareholders of record on Wednesday, February 28th will be paid a dividend of 0.47 per share by the industrial products company on Thursday, March 15th. This represents a $1.88 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, February 27th.

Dover has raised its dividend payment by an average of 5.5% annually over the last three years and has increased its dividend every year for the last 62 years. Dover has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $6.36 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 29.6%.

Shares of Dover (DOV) traded up $0.92 during trading hours on Monday, reaching $98.27. 1,052,796 shares of the company’s stock traded hands, compared to its average volume of 1,278,041. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40. Dover has a 1 year low of $75.51 and a 1 year high of $109.06. The company has a market cap of $15,033.21, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28.

Dover (NYSE:DOV) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the firm earned $1.03 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. sell-side analysts forecast that Dover will post 5.85 earnings per share for the current fiscal year.

In other Dover news, SVP Stephen Gary Kennon sold 2,359 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $94.40, for a total value of $222,689.60. Following the completion of the sale, the senior vice president now directly owns 5,192 shares of the company’s stock, valued at $490,124.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William T. Bosway sold 6,087 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The disclosure for this sale can be found here. Insiders sold 10,876 shares of company stock valued at $1,026,090 over the last three months. 2.50% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on DOV. SunTrust Banks lifted their price objective on shares of Dover to $106.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Morgan Stanley lifted their price objective on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. BMO Capital Markets lifted their price objective on shares of Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Seaport Global Securities reaffirmed a “hold” rating and set a $110.00 price objective on shares of Dover in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Friday, February 2nd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $104.42.

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Dover Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

Dividend History for Dover (NYSE:DOV)

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