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

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

Dover has raised 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% meaning 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 Trading Down 0.9%

Shares of DOV opened at $230.92 on Friday. The stock has a market capitalization of $31.67 billion, a P/E ratio of 29.08, a PEG ratio of 1.79 and a beta of 1.29. Dover has a twelve month low of $143.04 and a twelve month high of $237.54. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $204.51 and a two-hundred day simple moving average of $186.09.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $2.20 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Dover will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DOV shares. Morgan Stanley set a $210.00 price objective on shares of Dover in a research report on Wednesday, February 4th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. Finally, Robert W. Baird set a $255.00 target price on Dover in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Company Profile

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.