Topic: How To Invest

Q: What is your view of Dover Corp. as a portfolio holding?

Article Excerpt

A: Dover Corp., $159.71, symbol DOV on New York (Shares outstanding: 139.9 million; Market cap: $22.3 billion; www.dovercorporation.com), is a widely diversified manufacturer. Its industrial and aerospace products include compressors, flow meters, bearings, and other precision-engineered components. Its petroleum products include pumps, valves, and sucker rods. Electronic products include microwave filters, automated equipment for the assembly of circuit boards, and other equipment. In May 2018, Dover spun off its energy business, Apergy Corporation (symbol APY). Two years later, Apergy merged with ChampionX Corporation (symbol CHX on Nasdaq). Apergy stock was delisted on completion of the merger. In December 2023, Dover completed the acquisition of FW Murphy Production Controls LLC through its Dover Precision Components operating unit. FW Murphy is a Texas-based provider of performance optimization components, solutions, and instrumentation for reciprocating compressors and associated drive systems. End users include natural gas producers and hydrogen and carbon-capture businesses. Dover paid $530 million for the company. FW Murphy expected to generate $120 million in revenue in…