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Dover Corp - Stock Quote DOV

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Morningstar's Dover Corp Stock Analysis

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Long-Term Investors Should Buy Dover After Q1 Earnings SellOff

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

Narrow-moat Dover’s results came in below our expectations. That said, we think the 7% selloff during the trading day was an overreaction to the company’s first-quarter print. While we made some tweaks to the downside to account for management’s revised top-line guidance, time value of money more than offset these effects. Furthermore, our long-term view remains unchanged. Therefore, we maintain our $169 per share fair value estimate, which implies a multiple of roughly 20 times our 2022 adjusted EPS projections. With the selloff, long-term investors can own a high-quality firm that rarely trades at an attractive price, particularly under this proven management team.

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Dover Corp's Company Profile

Business Description

Dover is a diversified industrial manufacturing company with products and services that include digital printing for fast-moving consuming goods, marking and coding for the food and beverage industry, loaders for the waste collection industry, pumps for the transport of fluids, including petroleum and natural gas, and commercial refrigerators used in groceries and convenience stores. Most of the business operates in the United States. After the spinoff of Apergy, the company operates through five segments: engineered systems, clean energy and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.

3005 Highland Parkway
Downers Grove, IL, 60515
T +1 630 541-1540
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 25,000

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