Dover Co. (DOV) To Go Ex-Dividend on February 28th

Dover Co. (NYSE:DOVGet Free Report) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Shareholders of record on Thursday, February 29th will be paid a dividend of 0.51 per share by the industrial products company on Friday, March 15th. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, February 28th.

Dover has raised its dividend payment by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 69 consecutive years. Dover has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $9.87 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 20.7%.

Dover Stock Performance

Shares of DOV stock opened at $164.10 on Monday. The stock’s 50-day moving average is $153.68 and its two-hundred day moving average is $144.70. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.68 and a beta of 1.26. Dover has a 1 year low of $127.25 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOVGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 earnings per share. Analysts predict that Dover will post 9.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Royal Bank of Canada increased their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company raised their price objective on shares of Dover from $140.00 to $167.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Finally, Oppenheimer raised their price objective on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $168.18.

Get Our Latest Stock Analysis on DOV

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the completion of the transaction, the chief financial officer now directly owns 35,938 shares of the company’s stock, valued at approximately $5,103,196. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dover news, VP Anthony K. Kosinski sold 664 shares of Dover stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $141.64, for a total value of $94,048.96. Following the completion of the sale, the vice president now directly owns 5,333 shares of the company’s stock, valued at approximately $755,366.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,000 shares of Dover stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the completion of the sale, the chief financial officer now directly owns 35,938 shares of the company’s stock, valued at $5,103,196. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Fairfield Bush & CO. purchased a new stake in Dover in the 1st quarter worth approximately $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Dover in the 1st quarter valued at $938,000. Raymond James Trust N.A. boosted its holdings in shares of Dover by 5.8% in the 1st quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 310 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Dover by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 561 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Dover by 6.1% in the 1st quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after purchasing an additional 8,054 shares during the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

(Get Free Report)

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.

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Dividend History for Dover (NYSE:DOV)

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