Steward Partners Investment Advisory LLC raised its holdings in Stanley Black & Decker, Inc. (NYSE:SWK – Get Rating) by 25.1% in the 1st quarter, HoldingsChannel reports. The firm owned 6,010 shares of the industrial products company’s stock after purchasing an additional 1,207 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Stanley Black & Decker were worth $840,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Okabena Investment Services Inc. acquired a new stake in shares of Stanley Black & Decker in the 4th quarter valued at $28,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of Stanley Black & Decker in the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Stanley Black & Decker in the 4th quarter valued at $34,000. Riverview Trust Co acquired a new stake in shares of Stanley Black & Decker in the 1st quarter valued at $26,000. Finally, Bank of New Hampshire acquired a new stake in shares of Stanley Black & Decker in the 1st quarter valued at $29,000. 88.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SWK shares. Robert W. Baird lowered their target price on Stanley Black & Decker from $230.00 to $188.00 in a research note on Monday, April 25th. Morgan Stanley decreased their price objective on Stanley Black & Decker from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Credit Suisse Group began coverage on Stanley Black & Decker in a research note on Tuesday, April 5th. They set an “outperform” rating and a $165.00 price objective for the company. Barclays decreased their price objective on Stanley Black & Decker from $149.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, The Goldman Sachs Group decreased their price objective on Stanley Black & Decker from $143.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Stanley Black & Decker has a consensus rating of “Hold” and a consensus price target of $141.25.
Stanley Black & Decker Stock Performance
Stanley Black & Decker (NYSE:SWK – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.42. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.62 billion. Stanley Black & Decker had a return on equity of 16.16% and a net margin of 8.07%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.13 earnings per share. Equities analysts predict that Stanley Black & Decker, Inc. will post 9.88 earnings per share for the current fiscal year.
Stanley Black & Decker Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Tuesday, September 6th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, September 2nd. Stanley Black & Decker’s payout ratio is 37.53%.
Stanley Black & Decker Company Profile
Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.
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