Chilton Capital Management LLC Grows Stake in Dover Corporation $DOV

Chilton Capital Management LLC lifted its stake in Dover Corporation (NYSE:DOV) by 82.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,427 shares of the industrial products company’s stock after buying an additional 109,193 shares during the quarter. Dover makes up about 1.6% of Chilton Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Chilton Capital Management LLC owned about 0.18% of Dover worth $44,420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. North Capital Inc. bought a new position in shares of Dover in the first quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the first quarter valued at approximately $31,000. Harbour Investments Inc. boosted its holdings in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares during the period. Investment Research & Advisory Group Inc. purchased a new position in Dover during the 2nd quarter worth $33,000. Finally, Truvestments Capital LLC lifted its holdings in shares of Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 2.0%

Shares of NYSE:DOV opened at $177.64 on Friday. The firm has a fifty day moving average price of $172.13 and a 200 day moving average price of $176.03. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market capitalization of $24.36 billion, a PE ratio of 10.92, a P/E/G ratio of 1.40 and a beta of 1.26.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.91% and a net margin of 28.37%.The company had revenue of $1.78 billion during the quarter. Analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio is currently 12.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOV. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer lowered their price target on shares of Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Robert W. Baird set a $235.00 price target on shares of Dover in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Weiss Ratings cut shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

About Dover

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.