Price Action to Note: What’s Dover Corp Downside After Today’s Huge Decline?

Price Action to Note: What's Dover Corp Downside After Today's Huge Decline?

The stock of Dover Corp (NYSE:DOV) is a huge mover today! About 3.44M shares traded hands or 201.75% up from the average. Dover Corp (NYSE:DOV) has risen 10.76% since March 7, 2016 and is uptrending. It has outperformed by 3.17% the S&P500.
The move comes after 9 months negative chart setup for the $10.13B company. It was reported on Oct, 10 by We have $61.93 PT which if reached, will make NYSE:DOV worth $709.10M less.

Analysts await Dover Corp (NYSE:DOV) to report earnings on October, 18. They expect $1.03 earnings per share, down 9.65% or $0.11 from last year’s $1.14 per share. DOV’s profit will be $156.67M for 16.17 P/E if the $1.03 EPS becomes a reality. After $0.87 actual earnings per share reported by Dover Corp for the previous quarter, Wall Street now forecasts 18.39% EPS growth.

Dover Corp (NYSE:DOV) Ratings Coverage

Out of 18 analysts covering Dover (NYSE:DOV), 8 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 44% are positive. Dover has been the topic of 44 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded Dover Corp (NYSE:DOV) on Wednesday, June 8 to “Outperform” rating. The stock of Dover Corp (NYSE:DOV) has “Equal-Weight” rating given on Thursday, March 17 by Barclays Capital. The rating was downgraded by UBS to “Sell” on Wednesday, January 13. Vertical Research downgraded the shares of DOV in a report on Tuesday, March 8 to “Hold” rating. The stock has “Neutral” rating given by Seaport Global on Monday, April 25. The stock of Dover Corp (NYSE:DOV) earned “Buy” rating by Nomura on Monday, March 7. The stock of Dover Corp (NYSE:DOV) earned “Buy” rating by SunTrust on Tuesday, November 3. Suntrust Robinson initiated Dover Corp (NYSE:DOV) on Tuesday, November 3 with “Buy” rating. The stock of Dover Corp (NYSE:DOV) earned “Perform” rating by Oppenheimer on Friday, December 4. The rating was maintained by Barclays Capital with “Equal-Weight” on Monday, October 5.

According to Zacks Investment Research, “Dover Corporation is a world-wide, diversified manufacturer of industrial products. The company’s businesses are divided into the following four business segments: Dover Diversified; Dover Industries; Dover Resources; and Dover Technologies.”

Insitutional Activity: The institutional sentiment increased to 0.94 in 2016 Q2. Its up 0.10, from 0.84 in 2016Q1. The ratio increased, as 38 funds sold all Dover Corp shares owned while 196 reduced positions. 61 funds bought stakes while 158 increased positions. They now own 132.11 million shares or 2.85% less from 135.99 million shares in 2016Q1.
Commonwealth National Bank & Trust Of Australia owns 20,336 shares or 0.02% of their US portfolio. Gateway Advisers Ltd Com has 11,722 shares for 0.01% of their US portfolio. Bb&T has 198,733 shares for 0.29% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt, a Sweden-based fund reported 11,636 shares. Cibc Ww Mkts last reported 0% of its portfolio in the stock. Ameriprise Fin Inc has 1.39 million shares for 0.06% of their US portfolio. Duncker Streett Inc, a Missouri-based fund reported 16,353 shares. Vnbtrust Natl Association owns 3,432 shares or 0.14% of their US portfolio. Stratos Wealth Limited has invested 0.03% of its portfolio in Dover Corp (NYSE:DOV). Thompson Davis, a Virginia-based fund reported 247 shares. Wells Fargo Mn holds 2.23M shares or 0.06% of its portfolio. Dai Ichi Life Ins Limited accumulated 0.03% or 13,015 shares. Benedict Financial Incorporated last reported 24,510 shares in the company. Moreover, Wetherby Asset Mngmt has 0.06% invested in Dover Corp (NYSE:DOV) for 3,849 shares. Cap Fund Management reported 10,300 shares or 0.01% of all its holdings.

Insider Transactions: Since July 26, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.46 million net activity. 1,420 shares were sold by Fincher C. Anderson, worth $104,262 on Monday, August 8. $1.23M worth of Dover Corp (NYSE:DOV) shares were sold by Spurgeon William. Goldberg Paul sold $129,836 worth of stock.

More recent Dover Corp (NYSE:DOV) news were published by: which released: “Dover cuts earnings and revenue outlook” on October 10, 2016. Also published the news titled: “BRIEF-Dover Corp sees Q3 earnings per share $0.81 to $0.83” on October 10, 2016.‘s news article titled: “BRIEF-UK’s CMA to investigate Dover Corp deal to buy Wayne Fueling Systems” with publication date: October 10, 2016 was also an interesting one.

DOV Company Profile

Dover Corporation (Dover), incorporated on April 22, 1947, is engaged in the manufacturing of equipment, components and specialty systems. The Firm also provides supporting engineering, testing and other services. The Firm operates through four divisions: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Company’s businesses are based in the United States and Europe with manufacturing and other activities across the world. The Company’s clients include businesses supplying the waste and recycling; agricultural; defense; energy; automotive and commercial refrigeration industries; businesses supplying the power generation; aerospace, and chemical industries.

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