Dover Corporation: Continued Portfolio Optimization

Summary

• Dover Corporation's active reshuffling efforts over the summer included a $2 billion divestment and various acquisitions.
• Despite a premium valuation at 22 times earnings, Dover's strategic positioning and momentum make me cautiously optimistic.
• Dover's net debt is expected to be around $2 billion post-deal, maintaining a leverage ratio at just close to reported EBITDA.
• With the re-rating being complete, I am considering selling shares on further moves higher.