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

Dover Co. (NYSE:DOV) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.515 per share by the industrial products company on Friday, March 14th. This represents a $2.06 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, February 28th.

Dover has increased its dividend payment by an average of 1.0% annually over the last three years and has raised its dividend annually for the last 70 consecutive years. Dover has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

NYSE DOV opened at $202.46 on Friday. Dover has a 1-year low of $159.48 and a 1-year high of $222.31. The company has a market capitalization of $27.78 billion, a P/E ratio of 10.41, a PEG ratio of 2.03 and a beta of 1.24. The business has a 50 day moving average price of $195.26 and a 200 day moving average price of $191.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts expect that Dover will post 9.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.91.

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.