Jim Cramer on Dover Corporation: "The Stock Is Finally Getting the Due That It's Worth"

Dover Corporation (NYSE:DOV) is one of the stocks Jim Cramer shed light on. During the episode, a caller inquired if the stock is a buy, sell, or hold, and Cramer remarked:

“Oh, you know, I like Dover. It’s a short cycle name. It’s recommended by a bunch of people. The stock is finally getting the due that it’s worth. I think that Tobin’s doing a good job and I know he can do a lot of things. Got a great balance sheet. Stock’s on a real roll. I want to buy DOV, a club name.”

Dover Corporation (NYSE:DOV) manufactures equipment, components, and software solutions for industrial, energy, imaging, and climate applications. Cramer highlighted the “very good quarter” posted by the company during the October 23 episode, as he commented:

“This morning, we got a very good quarter from Dover. The classic diversified industrial manufacturer has made a big pivot toward data center, aerospace, clean energy. Stock shot up more than 8% today. Good news for me, it’s a big Charitable Trust holding. Now, technically, some people will call it a mixed-to-positive quarter. Dover’s total revenue and its organic sales growth, both fell a tad shy of expectations, but they also delivered an 11-cent earnings beat off a two-dollar and fifty-one-cent basis.

Management raised their full-year earnings forecast. Remember, Dover’s the kind of real economy stock that hasn’t done as much this year as I would like, but that’s because, well, you don’t need to report a picture-perfect quarter for the stock to rally like crazy, given the stock was ready to go.”

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Disclosure: None. This article is originally published at Insider Monkey.