The company’s fundamentals are still strong. Sales are expected to rise by 8% this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates for 2013.
The firm published, on 18 July, 2Q 2013 results above estimates. EPS is up 18.3% to USD 1.36 (consensus USD 1.286) ; sales are up 3.4% to USD 2.23 billion (consensus USD 2.196).
Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the USD 80.6 short term support. We expected prices to come back near this area, corresponding to the 20-day moving average before using it as a stepping stone to reach again USD 85.3.
A long position can be opened in case of a comeback to USD 81 in order to benefit from a bounce towards USD 85.3. A stop loss must be placed below the USD 80.6 short term support.
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Dover Corporation is a diversified industrial group. Net sales break down by family of products as follows:
- material handling equipment (23.7%): industrial and recreational winches, construction and demolition machinery attachments, hydraulic parts, industrial automation tools, etc.;
- fluid management products (21.2%): sucker rods, drill bit inserts for oil and gas exploration, control valves, piston and seal rings, nozzles, swivels, suction system equipment, etc.;
- refrigeration equipment (21.1%): refrigeration systems, commercial kitchen air and ventilation systems, heat transfer equipment, food and beverage packaging machines, etc.;
- mobile equipment (20.8%): tank trailers, compactors, balers, car wash systems, internal engine components, etc.;
- identification products (13.2%): industrial marking and coding systems used to code information on products, product traceability, etc.
Net sales are distributed geographically as follows: the United States (55.8%), Americas (8.1%), Europe (20.8%), Asia (11%) and other (4.3%).
DOVER CORPORATION 
