Recent Stock Purchase – July 2015

After a very busy June in terms of new buys, July has started a little slower which is fine with me. My goal regarding investment consistency is to make at least one buy every month which is something that I have done since 2007 through all market conditions.

 

These days it seems that the market is lacking any real catalyst to push prices higher. Seems like the headlines are dictating huge price swings rather than fundamental metrics for stock prices. That’s OK with me as we are presented with many new buying opportunities. That’s usually what volatility enables.

 

In my recent July Stock Considerations post I had mentioned that I was not looking to initiate any new positions for the month but rather focus on what was already in my portfolio. As many long time readers know, that typically meant an investment in TD, BNS or RY but with renewed volatility in the markets with concerns over China and Greece other names on my July watch list are looking more attractive from a price/valuation standpoint. Of course, being able to average down on a current holding doesn’t hurt either. With that being said, let’s take a look at my recent stock buy.

 

I have added to my taxable account 13.000 shares at $65.49 for a total investment of $851.37 in Dover Corporation (DOV). With this recent purchase my taxable account holdings in DOV now totals 19.6111 shares for a value of $1,294.33.

 

Looking at the rest of July, the Canadian banks still look attractive to me and may see another purchase in the sector before the month is over.

 

What do you think about my recent stock purchase? Is DOV in your current portfolio or on your watch list? Please let me know below.

 

Disclosure: Long DOV, TD, BNS, RY

42 thoughts on “Recent Stock Purchase – July 2015

    • Hi Geblin,

      There’s no denying the long term dividend growth history of DOV and it’s ability to grow its earning through many economic climates. Of course, these days with lower oil prices DOV is hurting a bit which is one of the reasons I decided to pick some shares up recently. Thank you for stopping by and commenting.

    • Hi RBD,

      I wanted to jump in on DOV a while back around the mid $60s as well and within a week it jumped to about $75. Now that it has come down again I decided to add to my existing position. The value and yield are a lot more attractive and no doubt the low oil prices are hurting the stock at present. As always, I appreciate your comment.

    • Hi JC,

      I wouldn’t worry too much about “missing” market volatility. I’m positive we’ll be seeing more crazy price swings in the coming months especially when Fed interest rate hike chatter starts up once again. Maybe those REITs will come into play once again. Keep watching the market and soon enough I’ll be reading about your recent buy. Thank you for stopping by and commenting.

    • Hi D4s,

      Glad you like this recent pick up. Not sure why DOV isn’t found in more dividend growth portfolios. It may not be the sexiest stock out there but it sure does deliver dividends year in and year out. As always, I appreciate your comment.

  1. Just a comment on the banks, I recently bought RY on a dip to add to my position there. I own RY, CM, and BNS currently, and probably will own all the banks at some point in the future. Good, stable, consistent dividends for my strategy.

    • Hi Ashley,

      I really like all five of the large Canadian banks. For now I own three, TD, BNS and RY and will most likely add to them before this month is over. I have been adding to my Canadian bank holdings almost every month for close to a year so you can guess that I’m a fan of the sector. I’m curious to know if you publish your current holdings online. I’d like to see what dividend stocks you like and own. Thank you for stopping by and commenting.

      • I’m just a small fish beginning to build a portfolio of dividend stocks for my RRSP. I own RY, BNS, and CM for my Cdn. banking exposure (so far), RCI.B for communications, and, unfortunately, CVE for the obligatory oil and gas sector holding. I hold the dividend champion usuals in the States, PG, KO, and JNJ. I only expect to make 2 purchases a year, maybe three if I’m lucky to have excess cash. The dividends from these are now almost enough to add one holding a year, plus some random additions of cash when I can. While I try to add to this my honest priority is paying down some debt I’ve accumulated to hopefully go from full time to part time work in 2020.

          • That looks like a good option too, though my current yield on my banks is higher than the ETF. I’d prefer to buy them when the individual ones are “on sale”. I may not buy another for quite a while, RY was just a good buy at the time. Thanx for pointing that one out though, hadn’t seen it. I’m with Qtrade and stick fairly closely to their free trade ETF list when I’m ” in the mood” for one, which I traded in frequently before deciding to go with buy and hold dividend stocks.

        • Hi Ashley,

          You are certainly on the right track. Big fish, small fish. It doesn’t matter. You already took that first step towards paying down debt and building a dividend income portfolio. I commend you for that. Most people don’t start till they are close to retirement age or later even. Looks like you already hold some dividend stalwarts which no doubt will provide you that ever increasing income we all seek. Thank you for sharing your holdings.

    • Hi BSR,

      We’ll see how the rest of July unfolds. If the Canadian banks are still at current levels they may be my next buys with TD being my first choice. Thank you for stopping by and commenting.

  2. DH,

    I like DOV and any industrial for that matter. I was reminded of that general fact when I was recently out celebrating the 4th and a person was hooking up a GoPro on a boat to catch some sweet film. What caught my eye was that everything, aside from the camera itself, was made by 3M. None of it was flashy or cool, and the plastic parts all had the GoPro logo, but looking closely it was 3M that made everything from the plastic itself to the stickies for the part. Industrials will always be close to my heart, because they have a hand in so many things that none of us realize.

    – Gremlin

    • Hi DG,

      Your comment highlights one of my favorite aspects of many long term successful companies. They’re invisible yet create products that are needed every day. Companies like MMM, ITW, BMS and the like produce many items that we use on a daily basis but their items or usage often fly under the radar. Thanks for sharing your MMM epiphany. As always, I appreciate your comment.

    • Hi Ryan,

      Thank you for your continued support. Congrats on your new gig too. I never saw a Dover elevator but another name, Otis (UTX), looks like another solid industrial play. Thank you for commenting.

  3. Nice find. I’ve probably use Dover’s product for many years without even notice it. As Canadian govt continue to cut rate to stimulate the economy, one would think bank’s profit will take a hit. It’s more like revenue will take a hit, not the profit. Not in short term anyway. Look at JPM, they hold $150/share in cash. Borrowed at the rate of near 0%, then issue credit card to charge at 20%. Finance homes at 3-6%. I really like the idea of adding more banks.

    • Hi vivianne,

      Well, I certainly like the large Canadian banks so I share your sentiment about adding to those positions. I never really considered JPM. The only other bank that I would consider adding from the U.S. is USB. For now, I only hold WFC. No doubt, the banks are like a coiled spring ready to jump once interest rates rise. In the meantime, I’ll be happy collecting my dividends. Thank you for stopping by and commenting.

    • Hi Tawcan,

      Thank you for your well wishes. I look forward to adding to my dividend pile with each purchase and when you add quality names like DOV it’s almost a given. Thank you for sharing your thoughts.

  4. DivHut,

    Way to go, keeping up with those purchases. I’ve been researching some companies looking to get a good buy. Since I already have DOV perhaps I should average down my cost basis. This would help bring up my industrial sector holdings. The other stock that got my attention was TRV. It passes most checks on my evolving stock screener. We’ll see. Thanks for sharing.

    – HMB
    HMB recently posted…July Recent BuyMy Profile

    • Hi HMB,

      I decided to average down on DOV after its recent decline. About two weeks ago it was around $75 and dropped to the mid $60s fast. No doubt the lower oil prices will put near term pressure on DOV but I’m in it for the long haul and their diversified products and services should carry them through these “rougher” times. I also like TRV especially since I’ll be “losing” CB now that it was bought out. I like the insurance companies in general and TRV looks like a suitable P&C substitute to CB. Thank you for stopping by and commenting.

    • Hi R2R,

      Great buys on your end too though I like the WPC buy a little better than the VZ. Either way, you got some great current yield which no doubt will jump start your dividend income. Thanks for sharing.

  5. Thinking of picking up a REIT this month as I don’t have one yet. I see you have HCP, HCN, VTR in your july watch list – leaning towards any specifically. For immediate income I may hop on the $O bandwagon this month!
    -Rich
    Redeemed Finance recently posted…3 month SEO ReportMy Profile

    • Hi RF,

      The REITs still look interesting to me in July but quite honestly the Canadian banks are calling me a little more. I guess if I had to pick one of those health REITs you mention VTR would probably top my list. O is another great REIT along with WPC. Of course, in the REIT space there are quite a few quality names such as OHI, AVB and DLR which come to mind. For now my focus is on the health REIT sector in my IRA. Thank you for stopping by and commenting.

    • Hi ARB,

      I don’t hide my dividend shopping addiction. There’s little doubt that I’m hooked on this investment strategy. As long as I keep making monthly buys I’m a happy camper. I always said that consistency in being a dividend growth investor is key. No need to shy away from “scary” markets or headlines. Just keep buying quality names, diversify and have that long term horizon. Appreciate the comment.

    • Hi DD,

      That’s what I always say. If I like a stock at a certain price and already feel comfortable owning it my portfolio why wouldn’t I like it at an even cheaper price? Broken stocks are OK to buy. Broken companies are not. Thank you for sharing your thoughts.

  6. Way to add to that dividend income stream DivHut. Oil related stocks have continued to decline in the past few weeks so there are several great deals in this sector right now. Although we don’t own DOV, it certainly appears to be a great company to own. They have a great dividend history with 59 years of dividend growth, a relatively low payout ratio at 41%, and they are well diversified into four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Well done picking up a great company that should keep you happy for a long time. 🙂

    Thanks for sharing your purchase. Hope you enjoy your weekend. AFFJ
    A Frugal Family’s Journey recently posted…2015 Goals (Update) – Mid YearMy Profile

    • Hi AFFJ,

      Always appreciate your comments and continued support. As you mentioned, DOV is pretty well diversified with a long dividend history that should continue to pay well into the future. No doubt their energy sector is hurting with current depressed oil prices but that should pass in time as I know many dividend investors are waiting patiently for a return to slightly higher oil prices as well. It’s all about adding to that dividend stream one bit at a time. Enjoy the rest of your weekend too. Thanks for the comment.

  7. I picked up some BNS to add to my RY and TD holdings like a lot of other people are doing; their long term history is just to good to pass up right now. DOV and UNP are on my short list as I’m a tad light in those sectors. I did just pickup RS (Reliance Steel & Aluminum) which again, is a sector I’m light in.

    • Hi DH,

      Great pick up with the Canadian banks. It’s no secret that I’m a fan of that sector especially at these levels when prices are beaten down so much. I’m still looking to make another buy in July and it appears that one of the Canadian banks will be making my buy list. Thank you for stopping by and sharing your recent pick up.

  8. Divhut,

    Seems like a great pickup here, especially with a long-term mindset. Strong company, strong balance sheet, and a solid dividend growth rate. This is as great of a time as any to add shares here, so great job making the move and adding the dividend income to your portfolio! Canadian banks are very attractive, I know Lanny just purchased some more CM and I’m considering adding more shares to my position as well. Why not at this point haha

    Keep up the great work!

    Bert

    • Hi DD,

      As dividend growth investors we often have to zig when the markets zag. With low oil prices hurting DOV it looks like a good time to add to my small position and average down on this dividend stalwart.

      Like the CM buy by Lanny. I’m sure he’ll be enjoying that nice current yield. I too like the Canadian banks these days as they are all getting pretty beat up as of late. Buy when others are selling, right? Thank you for stopping by and commenting.

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