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DOV vs LECO
Which Stock Would AI Choose? Dover Corporation (DOV) vs. Lincoln Electric Holdings (LECO) Stock Comparison
Key Takeaways
- Dover Corporation (DOV) delivered accelerating organic growth late in 2025, driven by secular demand in data-center cooling, biopharma, and electrification.
- Lincoln Electric Holdings (LECO) posted record 2025 revenue and adjusted EPS, but saw near-term softness in its automation segment.
- Both companies lean on pricing, acquisitions, and share repurchases, yet they serve very different end markets and carry distinct cyclical profiles.
- DOV appears to have stronger current momentum from bookings, while LECO faces a more mixed near-term volume picture.
- This comparison matters most for investors weighing diversified industrials against a focused welding and automation leader.
Introduction
Dover Corporation and Lincoln Electric Holdings are two well-established industrial manufacturers, but their businesses, end markets, and risk profiles differ meaningfully. Dover operates a diversified portfolio spanning pumps, clean energy, imaging, and climate technologies, while Lincoln Electric is a global specialist in welding, cutting, and automation. Comparing these names offers a useful lens on how a broad-based industrial conglomerate and a focused specialty manufacturer are positioned in the current environment. Traders and investors seeking relative performance, margin trends, and market positioning across the industrial sector may find this side-by-side analysis valuable for assessing which business is better aligned with today's demand backdrop.
DOV Overview and Recent Performance
DOV, or Dover Corporation, designs and manufactures engineered components and specialized equipment across five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. In its most recent quarter, Dover reported revenue of roughly $2.10 billion, up 8.8% year over year, with adjusted earnings per share (EPS) of $2.51 that modestly exceeded consensus estimates. Organic growth reached its highest level of the year, supported by double-digit gains in carbon-dioxide refrigeration systems, heat exchangers for data-center liquid cooling, single-use biopharma components, and digital controls for power-generation infrastructure.
Sentiment has been reinforced by sustained bookings momentum, with full-year bookings up around 6% and a book-to-bill ratio above 1.0, signaling demand strength heading into 2026. Management also raised its outlook during the year and issued 2026 adjusted EPS guidance near $10.55 at the midpoint. In recent weeks, analysts have modestly lifted price targets while maintaining neutral-to-positive ratings, reflecting confidence in margin expansion and a recovering order book rather than aggressive optimism.
LECO Overview and Recent Performance
LECO, or Lincoln Electric Holdings, is a leading manufacturer of welding products, arc-welding equipment, welding consumables, and automation systems. For full-year 2025, the company reported record revenue of approximately $4.2 billion, up 6%, and record adjusted EPS of $9.87. In its most recent quarter, sales rose 5.5% to about $1.08 billion, while adjusted EPS increased to $2.65. The company also raised its quarterly dividend, reflecting confidence in cash generation.
Recent performance has been more nuanced than the headline results suggest. Automation sales declined roughly 11% in the latest quarter on softer capital spending and project deferrals, and gross margin compressed as volumes weakened. The Americas Welding segment grew, but the International Welding segment continued to face European industrial demand headwinds. Lincoln Electric also introduced a new "RISE" strategy targeting over $6 billion in sales and peak operating margins above 20% by 2030. In recent weeks, the shares have reflected a degree of investor caution about near-term volume trends even as the long-term framework was well received.
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Head-to-Head Comparison
The two companies compete for investor attention from different starting points. Dover is a diversified industrial conglomerate whose growth increasingly hinges on secular, technology-adjacent markets such as data-center cooling, biopharma processing, and electrification. Lincoln Electric is a focused welding specialist with a meaningful automation division that is more sensitive to general manufacturing capital spending. Where Dover benefits from a broadening set of growth platforms, Lincoln Electric depends more heavily on a single core franchise and the health of industrial production.
On recent momentum, Dover has shown clearer positive signals, with broad-based bookings growth and a book-to-bill above 1.0. Lincoln Electric, by contrast, is mixing record financial results with declining automation sales and softer volumes in Europe. In terms of profitability, both are disciplined operators: Dover has been expanding operating margins through productivity initiatives, while Lincoln Electric maintains a top-tier adjusted return on invested capital (ROIC) of roughly 21%. Risk factors also differ: Dover faces exposure to European-exposed segments and potential tariff and commodity-cost pressures, while Lincoln Electric contends with cyclical capital-spending swings and an automation slowdown. Ultimately, Dover offers diversification and secular exposure, whereas Lincoln Electric offers focus, strong cash returns, and a long-term growth plan that has yet to translate into near-term volume acceleration.
Tickeron AI Verdict
Based on observable factors, Tickeron's AI framework would likely lean toward DOV in the current environment. Dover's sustained bookings momentum, above-1.0 book-to-bill ratio, accelerating organic growth, and exposure to resilient secular end markets provide a more consistent trend and clearer near-term catalysts than Lincoln Electric's current setup. While LECO offers strong capital returns and an ambitious 2030 plan, its recent automation decline and weaker international volumes introduce greater uncertainty into the near-term picture. This assessment is probabilistic rather than definitive: relative positioning can shift quickly with new earnings data, order trends, and macroeconomic developments, and neither name is without risk.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is DOV is a StrongBuy and LECO is a Hold.
DOV in upward trend: 10-day moving average moved above 50-day moving average on October 22, 2026
The 10-day moving average for DOV crossed bullishly above the 50-day moving average on October 22, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 10 of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 71%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 13, 2026. You may want to consider a long position or call options on DOV as a result. In 47 of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 58%.
The Moving Average Convergence Divergence (MACD) for DOV just turned positive on September 22, 2026. Looking at past instances where DOV's MACD turned positive, the stock continued to rise in 21 of 42 cases over the following month. The odds of a continued upward trend are 50%.
DOV moved above its 50-day moving average on October 16, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +3.59% 3-day Advance, the price is estimated to grow further. Considering data from situations where DOV advanced for three days, in 169 of 309 cases, the price rose further within the following month. The odds of a continued upward trend are 55%.
The Aroon Indicator entered an Uptrend today. In 85 of 216 cases where DOV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 39%.
Bearish Trend Analysis
The RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DOV declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 53%.
DOV broke above its upper Bollinger Band on October 21, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 38 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 49 (best 1 - 100 worst), indicating steady price growth. DOV’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 51 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 76, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 56 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 69 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.540) is normal, around the industry mean (3.933). P/E Ratio (24.224) is within average values for comparable stocks, (37.557). Projected Growth (PEG Ratio) (1.489) is also within normal values, averaging (1.879). Dividend Yield (0.010) settles around the average of (0.030) among similar stocks. P/S Ratio (3.055) is also within normal values, averaging (186.943).
The Tickeron Seasonality Score of 95 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
Momentum Indicator for LECO turns negative, indicating new downward trend
LECO saw its Momentum Indicator move below the 0 level on October 07, 2026. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 82 similar instances where the indicator turned negative. In 52 of the 82 cases, the stock moved further down in the following days. The odds of a decline are at 63%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for LECO turned negative on October 09, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In 26 of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at 62%.
LECO moved below its 50-day moving average on October 07, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where LECO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 58%.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 37 of 52 cases where LECO's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 71%.
Following a +1.52% 3-day Advance, the price is estimated to grow further. Considering data from situations where LECO advanced for three days, in 216 of 342 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
The Aroon Indicator entered an Uptrend today. In 171 of 305 cases where LECO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 56%.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 27 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 28 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock better than average.
The Tickeron PE Growth Rating for this company is 48 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 55 (best 1 - 100 worst), indicating fairly steady price growth. LECO’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 75 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 87 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: LECO's P/B Ratio (9.071) is very high in comparison to the industry average of (3.100). P/E Ratio (25.634) is within average values for comparable stocks, (21.719). Projected Growth (PEG Ratio) (1.531) is also within normal values, averaging (1.020). Dividend Yield (0.012) settles around the average of (0.018) among similar stocks. P/S Ratio (3.155) is also within normal values, averaging (2.217).
DOV | LECO | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 35 | 89 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 69 Overvalued | 87 Overvalued | |
PROFIT vs RISK RATING 1..100 | 51 | 28 | |
SMR RATING 1..100 | 56 | 27 | |
PRICE GROWTH RATING 1..100 | 49 | 55 | |
P/E GROWTH RATING 1..100 | 38 | 48 | |
SEASONALITY SCORE 1..100 | 90 | 75 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
DOV's Valuation (69) in the Miscellaneous Manufacturing industry is in the same range as LECO (87) in the Industrial Machinery industry. This means that DOV’s stock grew similarly to LECO’s over the last 12 months.
LECO's Profit vs Risk Rating (28) in the Industrial Machinery industry is in the same range as DOV (51) in the Miscellaneous Manufacturing industry. This means that LECO’s stock grew similarly to DOV’s over the last 12 months.
LECO's SMR Rating (27) in the Industrial Machinery industry is in the same range as DOV (56) in the Miscellaneous Manufacturing industry. This means that LECO’s stock grew similarly to DOV’s over the last 12 months.
DOV's Price Growth Rating (49) in the Miscellaneous Manufacturing industry is in the same range as LECO (55) in the Industrial Machinery industry. This means that DOV’s stock grew similarly to LECO’s over the last 12 months.
DOV's P/E Growth Rating (38) in the Miscellaneous Manufacturing industry is in the same range as LECO (48) in the Industrial Machinery industry. This means that DOV’s stock grew similarly to LECO’s over the last 12 months.
| DOV | LECO | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 45% | N/A |
| Stochastic ODDS (%) | 1 day ago 59% | 1 day ago 71% |
| Momentum ODDS (%) | 1 day ago 58% | 1 day ago 63% |
| MACD ODDS (%) | 6 days ago 50% | 1 day ago 62% |
| TrendWeek ODDS (%) | 1 day ago 59% | 1 day ago 59% |
| TrendMonth ODDS (%) | 1 day ago 50% | 1 day ago 60% |
| Advances ODDS (%) | 1 day ago 55% | 7 days ago 63% |
| Declines ODDS (%) | 28 days ago 53% | 5 days ago 58% |
| BollingerBands ODDS (%) | 1 day ago 46% | N/A |
| Aroon ODDS (%) | 1 day ago 39% | 1 day ago 56% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
DOV’s FA Score shows that 0 FA rating(s) are green while LECO’s FA Score has 2 green FA rating(s).
- DOV’s FA Score: 0 green, 5 red.
- LECO’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
DOV’s TA Score shows that 6 TA indicator(s) are bullish while LECO’s TA Score has 3 bullish TA indicator(s).
- DOV’s TA Score: 6 bullish, 4 bearish.
- LECO’s TA Score: 3 bullish, 4 bearish.
Price Growth
DOV (@Industrial Machinery) experienced а +3.65% price change this week, while LECO (@Tools & Hardware) price change was -0.21% for the same time period.
The average weekly price growth across all stocks in the @Industrial Machinery industry was -4.06%. For the same industry, the average monthly price growth was -16.06%, and the average quarterly price growth was -19.55%.
The average weekly price growth across all stocks in the @Tools & Hardware industry was -1.24%. For the same industry, the average monthly price growth was -3.22%, and the average quarterly price growth was -4.70%.
Reported Earning Dates
DOV is expected to report earnings on Feb 04, 2027.
LECO is expected to report earnings on Oct 27, 2026.
Industries' Descriptions
@Industrial Machinery (-4.06% weekly)The industry makes and maintains machines for consumers, the industry, and most other companies. While it has traditionally been categorized as heavy industry, some smaller companies are also branching into the light category. The industry is pivotal in providing the equipment for production in businesses like agriculture, mining, industry and construction, gas, electricity and water utilities. It also supplies supporting equipment for almost all sectors of the economy, such as equipment for heating, and air conditioning of buildings. Illinois Tool Works Inc., Parker-Hannifin Corporation and Rockwell Automation Inc are some of the major U.S. companies operating in this industry.
@Tools & Hardware (-1.24% weekly)Tools & Hardware industry includes companies that manufacture security products, storage cabinets, steel rules and tapes, calipers, shoe hook fasteners, lumber, structural materials and other related supplies. Stanley Black & Decker, Inc., Snap-on Incorporated and L.S. Starrett Company are some of the largest, established players in this industry. The industry is also seeing rapid growth in online sales. The proliferation of do-it-yourself (DIY) projects has boosted industry demand. But oil price volatility poses potential risks to this industry, particularly to e-commerce companies which spend on services of shipping companies, which might alter charges based on oil price movements.
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LECO and
Correlation & Price change
A.I.dvisor indicates that over the last year, LECO has been closely correlated with GGG. These tickers have moved in lockstep 74% of the time. This A.I.-generated data suggests there is a high statistical probability that if LECO jumps, then GGG could also see price increases.
| Ticker / NAME | Correlation To LECO | 1D Price Change % | ||
|---|---|---|---|---|
| LECO | 100% | +1.05% | ||
| GGG - LECO | 74% Closely correlated | -1.37% | ||
| DOV - LECO | 73% Closely correlated | +1.66% | ||
| DCI - LECO | 73% Closely correlated | +0.85% | ||
| ZWS - LECO | 70% Closely correlated | +1.59% | ||
| FELE - LECO | 70% Closely correlated | +0.25% | ||
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