Dover Corporation (NYSE:DOV) declared a quarterly dividend on Monday, May 8th, Wall Street Journal reports. Investors 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 yield of 2.12%. The ex-dividend date of this dividend is Friday, May 26th.
Dover Corporation has increased its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 61 consecutive years. Dover Corporation has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover Corporation to earn $4.42 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 39.8%.
Dover Corporation (DOV) traded up 0.68% during trading on Friday, hitting $82.94. The stock had a trading volume of 1,563,795 shares. The firm has a 50 day moving average of $81.37 and a 200-day moving average of $79.12. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 22.42 and a beta of 1.20. Dover Corporation has a 12 month low of $63.93 and a 12 month high of $84.40.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.48. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Dover Corporation had a net margin of 8.33% and a return on equity of 12.93%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Equities analysts predict that Dover Corporation will post $4.18 earnings per share for the current year.
A number of brokerages have recently weighed in on DOV. Bank of America Corporation boosted their price objective on shares of Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, June 9th. BMO Capital Markets raised shares of Dover Corporation from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $89.00 to $82.00 in a report on Thursday, June 8th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Seaport Global Securities reissued a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Finally, CIBC restated a “hold” rating on shares of Dover Corporation in a research report on Wednesday, May 24th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Dover Corporation has an average rating of “Hold” and a consensus price target of $85.22.
COPYRIGHT VIOLATION NOTICE: “Dover Corporation Announces Quarterly Dividend of $0.44 (DOV)” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.themarketsdaily.com/2017/06/16/dover-corp-dov-to-go-ex-dividend-on-may-26th-updated-updated.html.
In related news, VP William Spurgeon sold 7,864 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $81.25, for a total transaction of $638,950.00. Following the completion of the transaction, the vice president now owns 39,155 shares in the company, valued at approximately $3,181,343.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the transaction, the director now owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,502 shares of company stock valued at $5,216,444. Insiders own 2.50% of the company’s stock.
Dover Corporation 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.
Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with MarketBeat.com's FREE daily email newsletter.