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

Dover Corporation (NYSE:DOV) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.52 per share by the industrial products company on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 28th.

Dover has increased its dividend by an average of 0.0%annually over the last three years and has raised 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. 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 Price Performance

Shares of DOV stock traded up $0.45 on Friday, hitting $179.02. 142,075 shares of the company’s stock were exchanged, compared to its average volume of 1,070,417. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The company has a 50 day moving average of $171.96 and a 200 day moving average of $177.07. The stock has a market cap of $24.55 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29.

Dover (NYSE:DOV) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. On average, equities research analysts predict that Dover will post 9.45 EPS for the current year.

Hedge Funds Weigh In On Dover

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp increased its holdings in Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares in the last quarter. Geode Capital Management LLC lifted its stake in Dover by 1.0% in the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after buying an additional 33,539 shares during the period. Nuveen LLC bought a new position in shares of Dover during the 1st quarter worth approximately $526,081,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock valued at $435,406,000 after acquiring an additional 227,653 shares during the period. Institutional investors and hedge funds own 84.46% 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.