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.
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.
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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.
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