BMO Capital Markets Cuts Dover (NYSE:DOV) Stock To a “Market Perform” Rating

September 8, 2018 - By Kristin Houston

Dover Corporation (NYSE:DOV) Logo

Investors sentiment decreased to 0.84 in 2018 Q1. Its down 0.15, from 0.99 in 2017Q4. It dived, as 39 investors sold Dover Corporation shares while 214 reduced holdings. 72 funds opened positions while 140 raised stakes. 129.71 million shares or 1.85% less from 132.15 million shares in 2017Q4 were reported.

Atlas Browninc owns 4,530 shares. 4,861 are held by Da Davidson &. Alps Advisors has invested 0% in Dover Corporation (NYSE:DOV). Private Harbour Mgmt Counsel Llc has 12,497 shares for 1.16% of their portfolio. Jones Cos Lllp holds 0% or 2,382 shares in its portfolio. Dean Invest Associate Ltd Liability Co accumulated 0.57% or 39,357 shares. Jolley Asset Mgmt Ltd Liability Co accumulated 0% or 69 shares. 2,176 are owned by Nbt Bancshares N A New York. Winslow Evans & Crocker Inc reported 0% in Dover Corporation (NYSE:DOV). Magnetar Finance Limited Liability Com accumulated 11,526 shares. Haverford Trust Co reported 4,332 shares. Brown Brothers Harriman accumulated 0% or 7,650 shares. Kbc Nv holds 0.03% in Dover Corporation (NYSE:DOV) or 28,116 shares. Wetherby Asset owns 0.05% invested in Dover Corporation (NYSE:DOV) for 3,705 shares. Douglass Winthrop Advisors has 16,177 shares for 0.08% of their portfolio.

Since March 9, 2018, it had 0 insider purchases, and 3 sales for $2.87 million activity. 2,500 Dover Corporation (NYSE:DOV) shares with value of $197,146 were sold by WINSTON MARY A. Another trade for 5,000 shares valued at $511,965 was made by Somasundaram Sivasankaran on Friday, March 9. Goldberg Paul also sold $336,600 worth of Dover Corporation (NYSE:DOV) shares. Cerepak Brad M had sold 20,000 shares worth $1.52M on Friday, June 15. 5,363 Dover Corporation (NYSE:DOV) shares with value of $549,708 were sold by Kosinski Anthony K.

Dover (NYSE:DOV) Receives a Downgrade

Shares of New York-listed Dover (NYSE:DOV) Have been downgraded by research analysts at BMO Capital Markets. BMO Capital Markets lowered their rating for the $12.52B market cap company to a “Market Perform” from their previous “Outperform” rating.

Dover Corporation (NYSE:DOV) Ratings Coverage

Among 10 analysts covering Dover (NYSE:DOV), 3 have Buy rating, 0 Sell and 7 Hold. Therefore 30% are positive. Dover has $115 highest and $79 lowest target. $91.67’s average target is 8.18% above currents $84.74 stock price. Dover had 17 analyst reports since March 26, 2018 according to SRatingsIntel. Stifel Nicolaus maintained the stock with “Hold” rating in Monday, April 30 report. BMO Capital Markets maintained the shares of DOV in report on Monday, April 30 with “Outperform” rating. The company was maintained on Wednesday, July 11 by Citigroup. On Thursday, July 12 the stock rating was maintained by Deutsche Bank with “Hold”. Barclays Capital maintained Dover Corporation (NYSE:DOV) on Friday, July 20 with “Overweight” rating. Morgan Stanley maintained it with “Overweight” rating and $106 target in Monday, April 30 report. The firm earned “Neutral” rating on Monday, March 26 by JP Morgan. The stock has “Overweight” rating by Barclays Capital on Monday, April 30. On Thursday, April 5 the stock rating was maintained by RBC Capital Markets with “Hold”. On Monday, July 9 the stock rating was maintained by Barclays Capital with “Overweight”.

The stock decreased 1.85% or $1.6 during the last trading session, reaching $84.74. About 1.76M shares traded or 14.54% up from the average. Dover Corporation (NYSE:DOV) has risen 19.15% since September 8, 2017 and is uptrending. It has outperformed by 6.58% the S&P500.

Analysts await Dover Corporation (NYSE:DOV) to report earnings on October, 18. They expect $1.28 EPS, up 10.34 % or $0.12 from last year’s $1.16 per share. DOV’s profit will be $189.05M for 16.55 P/E if the $1.28 EPS becomes a reality. After $1.30 actual EPS reported by Dover Corporation for the previous quarter, Wall Street now forecasts -1.54 % negative EPS growth.

Dover Corporation manufactures and sells a range of equipment and components, specialty systems, software and digital solutions, and support services worldwide. The company has market cap of $12.52 billion. The firm operates in four divisions: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. It has a 17.79 P/E ratio. The Energy segment provides solutions and services for the production and processing of fuels to drilling and production, bearings and compression, and automation end markets.

More news for Dover Corporation (NYSE:DOV) were recently published by:, which released: “Benzinga’s Top Upgrades, Downgrades For September 7, 2018” on September 07, 2018.‘s article titled: “Expected Dividend Increases In September 2018” and published on September 01, 2018 is yet another important article.

Dover Corporation (NYSE:DOV) Institutional Positions Chart

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