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

Dover Co. (NYSE:DOV) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Friday, February 28th will be paid 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 yield of 1.02%.

Dover has increased its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 35 years. Dover has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.8 %

Shares of Dover stock opened at $202.76 on Friday. 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 52-week low of $159.23 and a 52-week high of $222.31. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.03 and a beta of 1.24. The company’s 50 day moving average price is $195.23 and its 200-day moving average price is $191.50.

Dover (NYSE:DOV) last issued its 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 net margin of 32.95% and a return on equity of 21.03%. Equities research analysts forecast that Dover will post 9.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays raised their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover currently has an average 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.