Dover (DOV) Declares $0.50 Dividend

Dover said on February 10, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.02 annualized). Shareholders of record as of February 27, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.50 per share.

At the current share price of $155.70 / share, the stock's dividend yield is 1.30%. Looking back five years and taking a sample every week, the average dividend yield has been 1.80%, the lowest has been 1.12%, and the highest has been 3.00%. The standard deviation of yields is 0.43 (n=237).

The current dividend yield is 1.16 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 4.54% Upside

As of February 14, 2023, the average one-year price target for Dover is $162.76. The forecasts range from a low of $141.40 to a high of $189.00. The average price target represents an increase of 4.54% from its latest reported closing price of $155.70.

The projected annual revenue for Dover is $8,673MM, an increase of 1.94%. The projected annual EPS is $9.00, an increase of 20.59%.

What is the Fund Sentiment?

There are 1526 funds or institutions reporting positions in Dover. This is an increase of 11 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to DOV is 0.20%, an increase of 2.19%. Total shares owned by institutions decreased in the last three months by 1.54% to 145,492K shares. The put/call ratio of DOV is 0.92, indicating a bullish outlook.

What are large shareholders doing?

Jpmorgan Chase & holds 12,859K shares representing 9.20% ownership of the company. In it's prior filing, the firm reported owning 13,267K shares, representing a decrease of 3.18%. The firm increased its portfolio allocation in DOV by 103,248.39% over the last quarter.

HLIEX - JPMorgan Equity Income Fund Class I holds 5,049K shares representing 3.61% ownership of the company. No change in the last quarter.

Boston Partners holds 4,537K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 4,530K shares, representing an increase of 0.15%. The firm decreased its portfolio allocation in DOV by 56.82% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,266K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 4,242K shares, representing an increase of 0.56%. The firm increased its portfolio allocation in DOV by 0.73% over the last quarter.

Bank Of America holds 3,786K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 3,753K shares, representing an increase of 0.88%. The firm decreased its portfolio allocation in DOV by 99.89% over the last quarter.

Dover Background Information
(This description is provided by the company.)

Headquartered in Downers Grove, Illinois, Dover Corporation is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. The company delivers innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets the company serves. Recognized for its entrepreneurial approach for over 60 years, its team of over 23,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible.

This story originally appeared on Fintel.