Citigroup May Have Just Upped Their Stakes in Dover (NYSE:DOV)

September 8, 2018 - By Vernon Prom

Dover Corporation (NYSE:DOV) Logo

Investors sentiment decreased to 0.84 in Q1 2018. Its down 0.15, from 0.99 in 2017Q4. It dropped, 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.

Tctc Hldg Ltd Liability Com stated it has 3,500 shares. Sg Americas Securities Lc holds 0.02% or 24,108 shares in its portfolio. Obermeyer Wood Invest Counsel Lllp, Colorado-based fund reported 6,696 shares. Canandaigua Bank & Trust Trust invested 0.03% in Dover Corporation (NYSE:DOV). Commonwealth Of Pennsylvania Pub School Empls Retrmt has invested 0.02% of its portfolio in Dover Corporation (NYSE:DOV). Oppenheimer And stated it has 0.02% in Dover Corporation (NYSE:DOV). Liberty Mutual Asset Mngmt Incorporated invested in 0.02% or 6,204 shares. Commerzbank Aktiengesellschaft Fi has invested 0.01% of its portfolio in Dover Corporation (NYSE:DOV). Secor Cap Advsrs Ltd Partnership reported 0.49% stake. Cibc Asset Mgmt invested 0.01% in Dover Corporation (NYSE:DOV). Virginia-based Catawba Cap Management Va has invested 0.36% in Dover Corporation (NYSE:DOV). Cna holds 22,982 shares or 0.48% of its portfolio. Janney Montgomery Scott Ltd owns 30,898 shares. Pitcairn Communication holds 0.06% or 6,010 shares in its portfolio. Citadel Advsrs Ltd Llc stated it has 702,555 shares or 0.04% of all its holdings.

Since March 9, 2018, it had 0 insider buys, and 3 selling transactions for $2.87 million activity. Cerepak Brad M sold 20,000 shares worth $1.52M. The insider Goldberg Paul sold $336,600. Kloosterboer Jay L also sold $1.16M worth of Dover Corporation (NYSE:DOV) on Tuesday, May 29. 2,500 shares valued at $197,146 were sold by WINSTON MARY A on Thursday, June 7. $511,965 worth of Dover Corporation (NYSE:DOV) was sold by Somasundaram Sivasankaran on Friday, March 9.

Dover (NYSE:DOV) Stock Upgrade

In a report sent to investors on Friday morning, equity research analysts at the Citigroup equity research division upped shares of Dover (NYSE:DOV) stock from a Neutral to a respectable Buy 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. $91.33’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 firm has “Neutral” rating given on Thursday, August 30 by UBS. The company was maintained on Monday, April 30 by BMO Capital Markets. On Wednesday, April 18 the stock rating was maintained by SunTrust with “Hold”. The rating was maintained by Citigroup with “Neutral” on Monday, April 30. The firm has “Neutral” rating given on Friday, July 20 by Citigroup. The firm earned “Overweight” rating on Monday, April 30 by Barclays Capital. BMO Capital Markets downgraded the shares of DOV in report on Friday, September 7 to “Market Perform” rating. The stock of Dover Corporation (NYSE:DOV) has “Hold” rating given on Thursday, July 12 by Deutsche Bank. The stock has “Overweight” rating by Barclays Capital on Monday, July 9. The firm has “Overweight” rating by Morgan Stanley given on Friday, July 20.

The stock decreased 1.85% or $1.6 during the last trading session, reaching $84.74. About 1.76 million 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: Benzinga.com, which released: “Benzinga’s Top Upgrades, Downgrades For September 7, 2018” on September 07, 2018. Seekingalpha.com‘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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