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

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 0.515 per share by the industrial products company on Monday, December 16th. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th.

Dover has increased its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 70 consecutive years. Dover has a payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $9.37 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 22.0%.

Dover Stock Up 0.0 %

Shares of NYSE DOV opened at $206.44 on Thursday. The stock has a market capitalization of $28.32 billion, a P/E ratio of 18.47, a PEG ratio of 2.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover has a one year low of $137.73 and a one year high of $208.26. The firm’s 50 day simple moving average is $194.06 and its two-hundred day simple moving average is $185.76.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

DOV has been the subject of several recent research reports. Mizuho boosted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group assumed coverage on shares of Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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.