Dover Corp Stock Price, News & Analysis

Dover's subsidiary 3rd Eye announced the launch of Purif-Eye, a new SaaS solution designed to assist commercial recycling haulers in identifying contamination in recycling streams. This hands-free system processes images of container contents, enabling timely contamination notifications, which helps reduce fines of up to $100 per ton for contaminated loads. 3rd Eye's technology aims to educate customers on waste monitoring, potentially generating $6,500 in additional monthly revenue per front loader. This initiative supports ESG's digital strategy for improved decision-making among fleet owners.

Dover Fueling Solutions (DFS) announced a collaboration with ACI Worldwide to enhance data security at fuel dispensers through a point-to-point encryption (P2PE) offering. This initiative aims to protect consumers' credit and debit cards, addressing the heightened security demands following the recent liability shift in the U.S. The joint solution provides comprehensive encryption of cardholder data during transactions, safeguarding against breaches and malware threats. DFS's technology allows for secure payments on various hardware, ensuring safety for fuel and convenience retailers.

Dover Fueling Solutions has launched the DMP Magnetostrictive Flex Probe, designed to enhance fuel management for retailers across Europe, Africa, the Middle East, Asia, and Latin America. This cost-effective solution uses magnetostrictive technology to provide precise readings for various fuel types and additives, including biofuels. The probe operates effectively in challenging environments and is compatible with existing DFS fuel management products. The launch reflects DFS's commitment to innovation and high performance in the fuel retail market.

Dover (NYSE: DOV) announced the launch of Rotary Virtual Support™, a service allowing customers to access essential information for wheel service and lift equipment via QR codes on new Rotary products. The initiative aims to enhance productivity and safety in the automotive service industry, addressing challenges in hiring and training technicians. Users can easily register products, access manuals, and view training materials anytime. This innovation marks a significant advancement in customer support for Rotary, which is known for manufacturing trusted vehicle lifts and service products globally.

Blackmer, a subsidiary of Dover (NYSE: DOV), has commenced a major construction project at its Grand Rapids, MI headquarters. The project, aimed at enhancing manufacturing capabilities, will add 56,000 square feet of new space and create over 50 jobs by June 2023. Construction began in March 2021 and is set to complete in phases, with the plant expansion concluding by December 2022. The new facility will also feature energy-efficient systems, contributing to a reduced carbon footprint.

Dover announced the launch of the R1090 Pro 3D Alignment System by its brand Rotary. This innovative system features a tower-free design and a portable cabinet, allowing wheel alignments in limited spaces. It uses exclusive 3D targets for fast, accurate readings, enhancing revenue for shops. The system is equipped with Wi-Fi-enabled tablets for user-friendly operation. Rotary showcased the R1090 at the SEMA Show, highlighting its craftsmanship and three-year warranty, reinforcing its position as a leading manufacturer in the automotive service industry.

The Board of Directors of Dover declared a quarterly cash dividend of $0.50 per share, payable on December 14, 2021, to shareholders of record as of November 30, 2021. Dover, with annual revenue exceeding $7 billion, operates across five segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions, and Refrigeration & Food Equipment. The company is recognized for its innovative solutions and collaborative approach, employing over 24,000 individuals globally.

Dover (NYSE: DOV) announced that its President and CEO, Richard J. Tobin, will present at the virtual Baird 2021 Global Industrial Conference on November 9, 2021, at 9:40 am ET. A live audio webcast will be available at dovercorporation.com, with a replay archived for 90 days. Dover is a diversified global manufacturer with over $7 billion in annual revenue, operating through five segments, and employing over 24,000 people worldwide.