BMO Capital May Have Lost Confidence in Dover (NYSE:DOV), Downgrades Shares

September 8, 2018 - By Margaret Guttierez

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.

Voya Investment Management Ltd Llc has 80,573 shares for 0.02% of their portfolio. Orrstown Finance stated it has 0.1% of its portfolio in Dover Corporation (NYSE:DOV). Bancorporation Of America De accumulated 0.08% or 4.58M shares. Pub Employees Retirement Association Of Colorado holds 0.02% or 28,828 shares in its portfolio. Peapack Gladstone Financial owns 5,275 shares. Louisiana State Employees Retirement System invested in 0.04% or 9,400 shares. Eagle Ridge Inv Mngmt reported 5,161 shares stake. State Of Alaska Department Of Revenue holds 27,439 shares. Perkins Coie Trust accumulated 700 shares. Old Natl Financial Bank In accumulated 59,646 shares or 0.31% of the stock. Captrust reported 3 shares. Boston Family Office Limited Liability reported 0.04% stake. New Mexico Educational Retirement Board invested in 14,833 shares. First Mercantile has invested 0.04% in Dover Corporation (NYSE:DOV). 168,582 are owned by Credit Suisse Ag.

Since March 9, 2018, it had 0 buys, and 3 selling transactions for $2.87 million activity. $1.52M worth of stock was sold by Cerepak Brad M on Friday, June 15. $549,708 worth of Dover Corporation (NYSE:DOV) was sold by Kosinski Anthony K on Friday, March 9. The insider Somasundaram Sivasankaran sold $511,965. Kloosterboer Jay L had sold 14,745 shares worth $1.16M on Tuesday, May 29. WINSTON MARY A had sold 2,500 shares worth $197,146 on Thursday, June 7.

Dover (NYSE:DOV) Receives a Downgrade

Research analysts at BMO Capital’s equity research division cut shares of Dover (NYSE:DOV) from a “Outperform” to a “Market Perform” rating today. Theses analysts currently have a PT of $90 on DOV equating to a 6.21 % upside.

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. $91.33’s average target is 7.78% above currents $84.74 stock price. Dover had 19 analyst reports since March 26, 2018 according to SRatingsIntel. The rating was maintained by Citigroup with “Neutral” on Wednesday, July 11. The rating was maintained by Citigroup on Friday, July 20 with “Neutral”. The firm has “Neutral” rating by UBS given on Thursday, August 30. The stock of Dover Corporation (NYSE:DOV) has “Neutral” rating given on Monday, March 26 by JP Morgan. BMO Capital Markets downgraded Dover Corporation (NYSE:DOV) on Friday, September 7 to “Market Perform” rating. Barclays Capital maintained Dover Corporation (NYSE:DOV) rating on Monday, April 30. Barclays Capital has “Overweight” rating and $113 target. Barclays Capital maintained Dover Corporation (NYSE:DOV) rating on Monday, July 9. Barclays Capital has “Overweight” rating and $88 target. Citigroup upgraded the shares of DOV in report on Friday, September 7 to “Buy” rating. On Monday, April 30 the stock rating was maintained by BMO Capital Markets with “Outperform”. The rating was maintained by Stifel Nicolaus on Monday, April 16 with “Hold”.

The stock decreased 1.85% or $1.6 during the last trading session, reaching $84.74. About 1.76M shares traded or 14.32% 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 $189.05 million 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: Seekingalpha.com, which released: “Expected Dividend Increases In September 2018” on September 01, 2018. Benzinga.com‘s article titled: “Benzinga’s Top Upgrades, Downgrades For September 7, 2018” and published on September 07, 2018 is yet another important article.

Dover Corporation (NYSE:DOV) Institutional Positions Chart

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