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

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders 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 annualized dividend 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 increased its dividend every year for the last 35 years. Dover has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

DOV opened at $202.76 on Friday. The firm has a market cap of $27.82 billion, a P/E ratio of 10.42, a PEG ratio of 2.03 and a beta of 1.24. The firm has a 50-day moving average of $195.23 and a 200 day moving average of $191.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a fifty-two week low of $159.23 and a fifty-two week 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 for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, research analysts expect that Dover will post 9.47 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on DOV shares. Mizuho upped their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada increased their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Barclays increased their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Company Profile

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.