Dover Corp to Issue Quarterly Dividend of $0.44 (DOV)

Dover Corp (NYSE:DOV) announced a quarterly dividend on Monday, May 8th. Stockholders of record on Wednesday, May 31st will be given a dividend of 0.44 per share by the industrial products company on Thursday, June 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, May 26th.

Dover Corp has raised its dividend by an average of 5.9% per year over the last three years and has increased its dividend every year for the last 61 years. Dover Corp has a dividend payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dover Corp to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 40.1%.

Shares of Dover Corp (NYSE:DOV) traded up 2.35% during trading on Friday, hitting $82.73. 570,170 shares of the company were exchanged. The company’s 50-day moving average price is $79.84 and its 200 day moving average price is $77.18. The stock has a market cap of $12.88 billion, a P/E ratio of 22.36 and a beta of 1.18. Dover Corp has a 12 month low of $63.93 and a 12 month high of $82.73.

Dover Corp (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.48. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, equities analysts predict that Dover Corp will post $4.15 earnings per share for the current fiscal year.

Dividend History for Dover Corp (NYSE:DOV)

Several equities analysts have recently weighed in on the stock. Citigroup Inc raised their price target on shares of Dover Corp from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 11th. Stifel Nicolaus raised their price target on shares of Dover Corp from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 21st. Barclays PLC raised their price target on shares of Dover Corp from $78.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 target price (up from $86.00) on shares of Dover Corp in a research note on Sunday, April 23rd. Finally, Edward Jones cut shares of Dover Corp from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Dover Corp presently has a consensus rating of “Hold” and a consensus price target of $84.55.

In other news, VP Sandra A. Arkell sold 1,850 shares of Dover Corp stock in a transaction on Friday, February 24th. The stock was sold at an average price of $79.94, for a total transaction of $147,889.00. Following the completion of the sale, the vice president now owns 10,742 shares of the company’s stock, valued at $858,715.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C. Anderson Fincher sold 15,638 shares of Dover Corp stock in a transaction on Friday, May 12th. The stock was sold at an average price of $79.85, for a total value of $1,248,694.30. Following the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at approximately $2,622,433.70. The disclosure for this sale can be found here. Insiders have sold a total of 45,352 shares of company stock valued at $3,641,533 in the last ninety days. Insiders own 2.60% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Dover Corp to Issue Quarterly Dividend of $0.44 (DOV)” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2017/05/19/dover-corp-dov-declares-quarterly-dividend-of-0-44-updated.html.

Dover Corp Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

5 Day Chart for NYSE:DOV

Receive News & Ratings for Dover Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply