Dover Corporation (NYSE:DOV) to Issue $0.52 Quarterly Dividend

Dover Corporation (NYSE:DOV) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.52 per share by the industrial products company on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th.

Dover has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 70 years. Dover has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $11.38 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 18.3%.

Dover Stock Up 2.7%

Shares of NYSE:DOV opened at $215.61 on Wednesday. The company has a fifty day moving average of $214.94 and a 200-day moving average of $207.70. The company has a market capitalization of $29.03 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover has a 52-week low of $158.97 and a 52-week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.01. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities analysts predict that Dover will post 10.65 EPS for the current fiscal year.

Institutional Trading of Dover

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA increased its holdings in Dover by 23.4% in the first quarter. Glenmede Trust Co. NA now owns 17,306 shares of the industrial products company’s stock valued at $3,607,000 after purchasing an additional 3,277 shares during the period. Western Wealth Management LLC acquired a new stake in Dover during the 1st quarter worth about $166,000. Edgestream Partners L.P. grew its holdings in Dover by 44.9% during the 1st quarter. Edgestream Partners L.P. now owns 14,189 shares of the industrial products company’s stock worth $2,958,000 after acquiring an additional 4,399 shares during the period. Kentucky Retirement Systems grew its holdings in Dover by 65.2% during the 1st quarter. Kentucky Retirement Systems now owns 14,066 shares of the industrial products company’s stock worth $2,932,000 after acquiring an additional 5,553 shares during the period. Finally, Bull Harbor Capital LLC acquired a new stake in Dover during the 1st quarter worth about $1,238,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.