DOVER CORPORATION Expands Commercial Refrigeration Equipment Market Through 2023-2030
June 22, 2023
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DOVER CORPORATION ($NYSE:DOV) is a multinational manufacturer of industrial products and components that operate across multiple industries. DOVER’s commitment to innovation and customer satisfaction has resulted in a product portfolio which includes the highest quality refrigeration equipment, components, and systems to support its clients’ businesses. With the global demand for refrigeration solutions forecast to continue to grow over the next seven years, DOVER CORPORATION is poised to take advantage of this trend. In response, DOVER is expanding its commercial refrigeration equipment offerings with a focus on increasing efficiency, enhancing reliability, and reducing operating costs. In addition to the traditional range of freezer/refrigerator units, DOVER also offers advanced technology such as energy efficient compressors and energy efficient lighting systems.
DOVER is also expanding its reach into the foodservice market, where its products are helping restaurants, cafeterias, and grocery stores increase productivity and reduce energy consumption and waste. As DOVER CORPORATION continues to expand its presence in the commercial refrigeration equipment market from 2023 to 2030, it is confident that its innovative solutions can provide customers with the most reliable, efficient, and cost-effective refrigeration equipment available. With its commitment to excellence, DOVER is well positioned to meet the needs of the commercial refrigeration industry for years to come.
Price History
DOVER CORPORATION has made headlines this week, as their stock opened at $135.8 and closed at $137.0, up 1.3% from the last closing price of 135.2. This strong performance in the market has been attributed to the company’s long-term focus on their commercial refrigeration equipment segment. Through 2023-2030, DOVER CORPORATION has set a goal to expand its commercial refrigeration equipment market share, particularly in the US, Europe and Asia. To reach this goal, the company plans to introduce new products and services specifically designed for the commercial refrigeration segment. This will include solutions such as energy efficient cooling systems and climate control technology to reduce total operating costs. Additionally, DOVER CORPORATION is investing in research and development to create innovative solutions that allow for better performance and increased efficiency.
In addition, DOVER CORPORATION is committed to customer service and support. The company plans to provide comprehensive technical support and training to their customers, as well as offering after-sales services such as maintenance and repairs. DOVER CORPORATION is confident that its long-term focus on commercial refrigeration equipment will result in an increase of market share through 2023-2030. With their commitment to innovative products, customer service and technical support, the company is sure to make a lasting impression on the industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dover Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 8.54k | 1.07k | 12.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dover Corporation. More…
| Operations | Investing | Financing |
| 1.02k | -537.52 | -491.63 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dover Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.8k | 6.34k | 31.91 |
Key Ratios Snapshot
Some of the financial key ratios for Dover Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | 10.6% | 16.7% |
| FCF Margin | ROE | ROA |
| 9.4% | 20.3% | 8.2% |
Analysis
At GoodWhale, we examined the fundamentals of DOVER CORPORATION and our analysis found that DOVER CORPORATION has a high health score of 8/10 with regard to cashflows and debt, indicating that it is likely capable to ride out any crisis without the risk of bankruptcy. We classified DOVER CORPORATION as a ‘rhino’, a type of company we believe has achieved moderate revenue or earnings growth. DOVER CORPORATION is strong in dividend, profitability and medium in asset, but weak in growth. This makes it an attractive investment opportunity to investors who are looking for steady, consistent returns with minimal risk. Investors looking for rapid growth or higher returns may find this company less appealing. More…
Peers
The company has been in business for over 100 years and has a history of competitive rivalry with other companies in its industry. John Bean Technologies Corp, Georg Fischer AG, and Trelleborg AB are all major competitors of Dover Corp. Each company has a unique set of products and services that it offers, and each company competes for market share in the global marketplace.
– John Bean Technologies Corp ($NYSE:JBT)
John Bean Technologies Corporation provides technology solutions for the food processing and air transportation industries worldwide. It operates through Food & beverage solutions, and Airport solutions segments. The Food & beverage solutions segment offers a range of systems and services for food processors, including protein, fruit and vegetable, grain and pasta, and dairy. This segment also provides solutions for the brewing industry. The Airport solutions segment offers a range of solutions and services for airports, airlines, and ground handlers, including air traffic control towers, bag handling, and deicing. The company was founded in 1884 and is headquartered in Chicago, Illinois.
– Georg Fischer AG ($LTS:0QP4)
Georg Fischer AG is a Switzerland-based holding company engaged in the industrial sector. The Company operates through three business segments. The Piping Systems Division is engaged in the development, production and distribution of pipes, fittings, valves and related accessories made of various materials, including metal and plastic, primarily for the building sector and water and gas utilities. The Automotive Division is a supplier of products, systems and services for the automotive industry. The Machining Solutions Division focuses on developing and supplying products and systems for the machining of large and heavy components. The Company operates in over 30 countries worldwide.
– Trelleborg AB ($LTS:0NL3)
Trelleborg AB is a Swedish multinational conglomerate that develops, manufactures, and sells products for a variety of industries including automotive, aircraft, construction, oil and gas, and more. The company has a market cap of 58.94B as of 2022 and a Return on Equity of 10.04%. Trelleborg is a global leader in its field and has a strong presence in Europe, North America, and Asia.
Summary
Dover Corporation is an American industrial conglomerate that manufactures and sells a variety of products and services. Investing in Dover Corporation can provide investors with long-term growth potential, as well as attractive dividend yields. The company continues to benefit from its strategic acquisitions, such as Waupaca Foundry, which has allowed Dover Corporation to diversify its product portfolio and expand into new markets. Furthermore, Dover Corporation has a strong history of returning cash to shareholders through share repurchases and dividends, which is a key factor in driving long-term value.
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