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

Dover Corporation (NYSE:DOV) declared a quarterly dividend on Friday, May 8th. Shareholders of record on Friday, May 29th will be given a dividend of 0.52 per share by the industrial products company on Monday, June 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 29th.

Dover has raised its dividend 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 dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $11.38 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 18.3%.

Dover Stock Performance

NYSE DOV opened at $215.61 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. Dover has a 1 year low of $158.97 and a 1 year high of $237.54. The company has a market capitalization of $29.03 billion, a PE ratio of 26.88, a P/E/G ratio of 1.60 and a beta of 1.21. The company has a fifty day moving average of $214.94 and a two-hundred day moving average of $207.70.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Dover’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, analysts expect that Dover will post 10.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings in Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Reflection Asset Management purchased a new position in Dover in the fourth quarter valued at about $26,000. Financial Life Planners purchased a new position in Dover in the third quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in Dover in the fourth quarter valued at about $29,000. Finally, Tompkins Financial Corp increased its holdings in Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.