Dover Corporation - DOV STOCK NEWS

Dover (NYSE: DOV) announced the launch of the eTouch-S intelligent print and apply labeling system by its subsidiary, Markem-Imaje, on Sept. 7, 2022. The eTouch-S aims to reduce environmental impact while maintaining supply chain traceability and production speed of over 150 packs per minute. Enhanced with proprietary technology, it requires no plant air, minimizing downtime and maintenance. Built-in artificial intelligence ensures precise label application, enhancing operational safety and compliance with labeling standards. The product is part of Markem-Imaje's 2200 series, designed for efficiency and user-friendliness.

Dover's Environmental Solutions Group has expanded its Verif-Eye service verification tool, designed for Rear Load Refuse Collection Vehicles. This patent-pending technology enhances service accuracy by automatically collecting data on service stops, including bag counts and service times, without operator involvement. This innovation is crucial for waste management fleets operating on thin margins and helps reduce unnecessary service calls due to unverified complaints. Verif-Eye aligns with the Connected Collections strategy, improving operational efficiency and customer relations.

Dover Fueling Solutions (DFS) announced a collaboration with Bottomline to deliver a comprehensive fuel management solution for the fuel and convenience retail industry. This partnership integrates Bottomline's software capabilities with DFS's wetstock management services, aiming to help customers save 5-10% in logistical costs. DFS's services will enhance visibility into fuel supply chains, while Bottomline's software will optimize transportation routes. This collaboration addresses the rising costs associated with fuel loss and enhances operational efficiency in fuel logistics.

Dover (NYSE: DOV) announces the launch of its new VBMag™ Bearing Isolator by Inpro/Seal, which provides a liquid-tight seal for lubrication loss and contamination in harsh environments. This innovative product utilizes magnetic force, ensuring zero shaft wear and extending sealing life, thus reducing maintenance costs. The addition of VBMag enhances Inpro/Seal's portfolio, aimed at improving equipment reliability and reducing downtime across various industries. The company leverages over 40 years of expertise in delivering effective sealing solutions.

Dover (NYSE: DOV) has announced an increase in its quarterly cash dividend from $0.50 to $0.505 per share, marking a 67th consecutive annual increase. This decision showcases Dover's commitment to returning capital to its shareholders. The dividend will be paid on September 15, 2022, to shareholders on record as of August 31, 2022. Dover, a diversified manufacturer with approximately $8 billion in revenue, operates across five segments, emphasizing innovation and operational agility in its market approach.

Dover, through its brand Metcal, announced the launch of the HCT-910 Hot Air Rework System on July 28, 2022. This digital handheld convection tool boasts a maximum temperature of 600 °C and a power output of 900 watts, designed for industrial soldering and reworking applications. Key features include an intuitive user interface, adjustable temperature and airflow, and support for worldwide input voltages. With a focus on precision and performance, the HCT-910 is expected to enhance user experience and improve production throughput.

Dover reported strong second-quarter financial results for 2022, with revenue of $2.2 billion, up 6% year-over-year, and net earnings of $290 million, increasing 9%. Adjusted diluted EPS rose to $2.14, a 4% gain. For the first half of 2022, revenue reached $4.2 billion, an 8% increase, with GAAP net earnings up 4% to $516 million. Despite challenges from input shortages and COVID-19 lockdowns in China, Dover maintained high backlog levels and showed improvement in operating margins. The company remains optimistic with full-year guidance of GAAP EPS between $7.44 and $7.64.

Dover Fueling Solutions (DFS), part of Dover (NYSE: DOV), announced the launch of new hydrogen and compressed natural gas (CNG) dispensers in the EMEA region. The DFS Hydrogen dispenser combines advanced technology for efficient refueling, supporting both heavy-duty vehicles and retail fuel applications, with IoT features for remote monitoring. Additionally, the Wayne Helix™ 6000 II CNG dispenser enhances user experience and enables simultaneous use for traditional and heavy-duty vehicles. This launch underscores DFS's commitment to clean energy solutions.