Dover Corporation (NYSE:DOV) to Issue $0.52 Quarterly Dividend

Dover Corporation (NYSE:DOV) announced a quarterly dividend on Thursday, February 12th. Investors of record on Friday, February 27th will be paid a dividend of 0.52 per share by the industrial products company on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th.

Dover has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 70 consecutive years. Dover has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $10.29 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 20.2%.

Dover Stock Down 0.9%

DOV stock opened at $230.92 on Friday. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 1.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The business’s 50-day moving average is $204.51 and its two-hundred day moving average is $186.09. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the company posted $2.20 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Dover will post 9.45 earnings per share for the current year.

Insider Activity

In other news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the transaction, the vice president owned 8,422 shares of the company’s stock, valued at $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This represents a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,757 shares of company stock worth $1,150,646 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently modified their holdings of DOV. Financial Life Planners bought a new stake in Dover in the 3rd quarter valued at $25,000. Meeder Asset Management Inc. grew its position in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in shares of Dover in the second quarter worth about $30,000. Tompkins Financial Corp lifted its position in shares of Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after buying an additional 77 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its stake in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.