Dover Corporation Company Overview
What is the Stock Ticker for Dover Corporation?
The stock ticker for Dover Corporation is DOV.
Where is the Dover Corporation headquarters?
Dover Corporation's headquarters is located in Downers Grove, Illinois, United States.
What Does Dover Corporation Do?
Dover Corporation is a diversified global manufacturer that provides innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services to various industries. Their products and services are used in industries such as energy, retail refrigeration, food equipment, industrial automation, and more.
How Does Dover Corporation Make Money?
Dover Corporation is a diversified global manufacturer that operates in four main segments: Engineered Products, Fueling Solutions, Imaging & Identification, and Pumps & Process Solutions. The company makes money by selling its products and services to customers in various industries, including energy, retail fueling, healthcare, industrial automation, and food and beverage.
The Engineered Products segment includes businesses that design and manufacture a range of products, such as bearings, gears, and automation equipment, for customers in the aerospace, defense, and industrial markets. This segment generates revenue by selling its products directly to customers or through distributors.
The Fueling Solutions segment provides fuel dispensing equipment, payment systems, and related services to retail fueling customers. This segment generates revenue by selling its products and services to fuel retailers and commercial fleet operators.
The Imaging & Identification segment offers products and services that help customers improve their productivity and efficiency, such as barcode scanners, printers, and software solutions. This segment generates revenue by selling its products and services to customers in the retail, healthcare, and transportation industries.
The Pumps & Process Solutions segment provides pumps, mixers, and other fluid handling equipment to customers in the chemical, pharmaceutical, and food and beverage industries. This segment generates revenue by selling its products and services directly to customers or through distributors.
In addition to selling its products and services, Dover Corporation also generates revenue through aftermarket sales, which include replacement parts, maintenance, and repair services. The company also generates revenue through acquisitions, which allow it to expand its product offerings and customer base.
Overall, Dover Corporation makes money by designing, manufacturing, and selling a diverse range of products and services to customers in various industries. The company's focus on innovation, customer service, and operational excellence has helped it maintain a strong market position and generate consistent revenue growth over the years.
Who Founded Dover Corporation?
The founders of Dover Corporation are George Ohrstrom Sr., C. Anderson Kimball, and George Winslow.
What is the History of Dover Corporation?
Dover Corporation is a diversified global manufacturer that has been in operation for over 65 years. The company was founded in 1955 by George Ohrstrom Sr. and was initially focused on producing specialized equipment for the oil and gas industry. Over time, Dover expanded its operations to include a wide range of industrial products and services.
In the 1960s, Dover began acquiring other companies in order to diversify its product offerings. This strategy continued throughout the 1970s and 1980s, with Dover acquiring companies in industries such as refrigeration, printing, and electronics. By the 1990s, Dover had become a major player in the industrial manufacturing sector, with operations in over 60 countries.
In the early 2000s, Dover shifted its focus to more specialized markets, such as energy, refrigeration, and fluid management. The company also began investing heavily in research and development, with a particular emphasis on developing new technologies for the energy sector.
Today, Dover Corporation is a Fortune 500 company with over 23,000 employees and annual revenues of over $7 billion. The company's products and services are used in a wide range of industries, including oil and gas, food and beverage, healthcare, and transportation. Despite its size and global reach, Dover remains committed to its founding principles of innovation, customer service, and operational excellence.
What Industry is Dover Corporation In?
Dover Corporation is in the industrial manufacturing and engineering industry.
What Are Dover Corporation's Competitive Advantages?
1. Diversified Portfolio: Dover Corporation has a diversified portfolio of businesses that operate in various industries, including energy, refrigeration, food equipment, and printing and identification. This diversification helps the company to mitigate risks and capitalize on opportunities in different markets.
2. Strong Brand Recognition: Dover Corporation has a strong brand recognition in the industries it operates in. The company's brands, such as Markem-Imaje, Hillphoenix, and OPW, are well-known and trusted by customers.
3. Innovation: Dover Corporation invests heavily in research and development to create innovative products and solutions that meet the evolving needs of its customers. This focus on innovation helps the company to stay ahead of its competitors.
4. Global Presence: Dover Corporation has a global presence with operations in over 100 countries. This global reach helps the company to access new markets and customers, and also provides a competitive advantage in terms of economies of scale.
5. Operational Excellence: Dover Corporation has a strong focus on operational excellence, which helps the company to improve efficiency, reduce costs, and increase profitability. The company's continuous improvement initiatives and lean manufacturing processes are key drivers of its operational excellence.
What Are Dover Corporation's Competitive Threats?
1. Intense competition from other industrial manufacturing companies in the same market segment.
2. Economic downturns and fluctuations in demand for industrial products.
3. Increasing costs of raw materials and energy.
4. Rapid technological advancements leading to obsolescence of existing products.
5. Emergence of new competitors with innovative products and services.
6. Changes in government regulations and policies affecting the industry.
7. Fluctuations in foreign exchange rates affecting international sales.
8. Increasing pressure from customers to reduce prices and improve quality.
9. Environmental concerns and regulations affecting the manufacturing process.
10. Cybersecurity threats and data breaches affecting the company's operations and reputation.
Who Are Some of the Competitors of Dover Corporation?
Some of the competitors of Dover Corporation include Emerson Electric Co., Parker Hannifin Corporation, Ingersoll Rand Inc., and Flowserve Corporation.
What Are Some of Dover Corporation's Products and Services?
Some notable products and services from Dover Corporation include refrigeration and food equipment, fueling solutions, pumps and process solutions, and printing and identification technologies. They also offer various industrial products such as bearings, automation and control systems, and specialty chemicals.
Has Dover Corporation Acquired any Companies?
Yes, Dover Corporation has made several notable acquisitions over the years. Some of the most significant ones include the acquisition of Wayne Fueling Systems in 2016, the acquisition of Maag Group in 2018, and the acquisition of Belanger, Inc. in 2019.