Dover on Thursday delivered better-than-expected second-quarter earnings and raised its full-year guidance — an all-around strong report that validates our decision to take a stake in the industrial name two months ago. Revenue in the three months ended June 30 totaled $2.18 billion, topping the consensus of $2.15 billion, according to estimates compiled by LSEG. Sales rose 5% year over year on an organic basis, which removes the impact of foreign exchange, acquisitions, and divestitures.
I think we were just more opportunistic, but it's an arrow in our quiver going forward." While it's not our style to buy a stock up more than 6%, as Dover is Thursday, we're maintaining our 1 rating and price target of $200 a share. Quarterly commentary Dover knocked it out of the park with its organic bookings growth, up 16% in the quarter, representing a major acceleration from the 3% growth tallied in the January-to-March period.
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