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Dover Corporation (NYSE:DOV) is included among the 13 Best Dividend Kings to Buy in 2026.

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On January 15, RBC Capital analyst Deane Dray nudged up the firm’s price target on Dover Corporation (NYSE:DOV) to $199 from $198 and kept a Sector Perform rating on the stock. The change came in a broader note previewing Q4 earnings across the Multi-Industry group. RBC said it likes the overall setup heading into 2026, pointing to a long list of supportive themes, including multi-year secular drivers, megaproject activity, continued datacenter strength, and what it sees as an attractive valuation backdrop for the sector.

At the same time, the firm made it clear that the recovery is not evenly spread. RBC described the current environment as a “two-speed economy,” where datacenter-related demand is running in the mid-teen% range or higher, while most other industrial categories are struggling to grow much at all. In fact, the analyst noted many names are still dealing with “sluggish and uneven demand.” Even so, RBC said it remains constructive on the longer-term outlook, especially given the secular tailwinds tied to electrification, reshoring, the energy transition and storage, and the datacenter buildout.

Within that backdrop, Dover has been positioning itself around areas where demand is more durable and where it can compound growth over time. Recently, the company has been pushing deeper into digital offerings, tightening up operations to improve efficiency, and allocating more investment toward faster-growing end markets such as clean energy, biopharma process solutions, and data center technologies. Management has highlighted Dover’s diversified model as a key advantage, noting that active portfolio management, innovation, sustainability efforts, and disciplined capital allocation help the business stay resilient through slowdowns in any one area while still capturing long-term growth trends like energy transition and industrial automation.

Dover Corporation (NYSE:DOV) is a diversified global industrial manufacturer and solutions provider. Through its Engineered Products segment, the company sells a range of equipment, components, software, and services into markets such as the vehicle aftermarket, aerospace and defense, and other industrial end users.

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Disclosure: None.