Dover Making Its Case As A Different, Better Industrial

Dover (NYSE:DOV) has undergone a lot of changes over the last few years, and now, investors are getting to see how it fares through its first real test. So far, the results are encouraging. Dover is still leveraged to a lot of short-cycle markets, but that won't seem like such a bad thing when the recovery starts. Along the way, margins have also come in stronger than expected, boosting the company in an area that is a key value driver.

Dover's shares have tracked its peer group so far in 2020, while outperforming by about 10% over the past year. I'm a little surprised that Dover hasn't done better, but I also can't say that the shares are all that cheap. Dover looks to me to have less risk than its peer group over the next four to six quarters, but with a prospective return in the mid-to-high single digits, I think there are better opportunities in the multi-industrial space.

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Dover Making Its Case As A Different, Better Industrial