Dover Co. (NYSE:DOV) Plans $0.52 Quarterly Dividend

Dover Co. (NYSE:DOV) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.515 per share by the industrial products company on Friday, March 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%.

Dover has raised its dividend payment by an average of 1.0% annually over the last three years and has raised its dividend annually for the last 35 consecutive years. Dover has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $10.24 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 20.1%.

Dover Trading Up 0.8 %

Shares of DOV traded up $1.70 during trading hours on Thursday, hitting $202.76. 552,016 shares of the stock traded hands, compared to its average volume of 850,054. The business has a fifty day moving average of $195.21 and a 200-day moving average of $191.42. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $27.82 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Dover has a 1-year low of $159.23 and a 1-year high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts expect that Dover will post 9.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Citigroup cut their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, Barclays raised their target price on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

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.