Dover Co. (DOV) To Go Ex-Dividend on August 30th

Dover Co. (NYSE:DOV – Get Rating) announced a quarterly dividend on Thursday, August 4th, RTT News reports. Investors of record on Wednesday, August 31st will be paid a dividend of 0.505 per share by the industrial products company on Thursday, September 15th. This represents a $2.02 annualized dividend and a yield of 1.51%. The ex-dividend date is Tuesday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.50.

Dover has a dividend payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dover to earn $9.06 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 22.1%.

Dover Stock Performance

Shares of NYSE DOV opened at $134.03 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt-to-equity ratio of 0.67. The company has a market cap of $19.24 billion, a PE ratio of 17.05, a PEG ratio of 1.11 and a beta of 1.39. The firm’s 50-day moving average price is $126.04 and its 200-day moving average price is $142.80. Dover has a 52-week low of $116.66 and a 52-week high of $184.04.

Dover (NYSE:DOV – Get Rating) last released its earnings results on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business earned $2.06 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Dover will post 8.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DOV. Fairfield Bush & CO. acquired a new position in Dover in the 1st quarter valued at $48,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Dover during the 1st quarter valued at about $938,000. Raymond James Trust N.A. boosted its stake 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 buying an additional 310 shares during the period. Vontobel Holding Ltd. boosted its stake 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 buying an additional 561 shares during the period. Finally, Sei Investments Co. boosted its stake 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 buying an additional 8,054 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOV has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 31st. Barclays lowered their target price on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Mizuho decreased their price objective on Dover from $175.00 to $155.00 and set a “buy” rating for the company in a report on Monday, July 18th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Dover to $135.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $161.17.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.