Dover's Investor Day Gives A Reassuring View Of An Improving Company

Multi-industrial Dover (DOV) has done quite well over the last year, handily outperforming most industrial peers as the Street has bought into this company’s self-help restructuring efforts. Not only has Dover taken strides toward higher margins, but the company has also become meaningfully less cyclical in the process.

I thought the shares were relatively fairly valued back at the time of second quarter earnings, and while the shares did sell off some after earnings, the stock has since recovered and has modestly outperformed its peers on renewed optimism that the trade dispute with China can come to a negotiated end. At this point, I like what Dover is doing from a structural/organizational standpoint, but I’m not all that excited about the valuation. It’s fine, I suppose, as a hold, but I’d wait in the hopes of a pullback before starting a position.

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Dover's Investor Day Gives A Reassuring View Of An Improving Company