Dover (DOV) is a diversified global manufacturer with a market cap of $8.6 billion. The company has the second longest consecutive dividend increase streaks of any business.

Dover has increased its dividend payments for 60 consecutive years. This makes Dover one of just 17 Dividend Kings – dividend stocks with 50+ years of consecutive dividend increases. For the record, American States Water (AWR) has the longest active dividend increase streak at 61 consecutive years.

Dover stock is currently offering investors a 3.0% dividend yield. The company is experiencing a growth slowdown right now due to low oil prices and weaker-than-expected growth in China.

To understand how these factors effect Dover, the company’s business segments are analyzed below.

Business Overview

Dover operates in four separate segments.  The company’s segments are shown below along with percentage of total earnings generated for the company over the first 3 quarters of fiscal 2015.

The fluids segment manufactures pumps and fluid transfer devices for the oil and gas, retail fueling, chemical, hygienic, and industrial markets.  Key brands in the fluids segment are:

The energy segment manufactures equipment for the oil and gas industry – especially artificial lift equipment.  The segment also manufactures bearings and compressions.  Key brands in the energy segment include:

The engineered systems segment is highly diversified; it serves the printing, vehicle, aerospace, and waste management industries.  Key brands in the segment are:

The refrigeration and food equipment segment provides solutions in refrigeration, electrical, heating and cooling systems, and in food and beverage packaging.  Key brands in the segment are: