Wells Fargo & Company Cuts Stanley Black & Decker (NYSE:SWK) Price Target to $60.00

Stanley Black & Decker (NYSE:SWK) had its target price lowered by Wells Fargo & Company from $70.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the company. Robert W. Baird raised their price objective on Stanley Black & Decker from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays cut their price target on shares of Stanley Black & Decker from $94.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Jefferies Financial Group began coverage on shares of Stanley Black & Decker in a research report on Wednesday, February 19th. They issued a “buy” rating and a $103.00 price objective for the company. Citigroup reduced their target price on shares of Stanley Black & Decker from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, UBS Group lowered their price target on Stanley Black & Decker from $121.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.50.

Stanley Black & Decker Trading Up 4.2 %

NYSE SWK opened at $61.43 on Thursday. The company has a 50-day moving average of $71.19 and a 200-day moving average of $81.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 0.37. Stanley Black & Decker has a 12 month low of $53.91 and a 12 month high of $110.88. The company has a market cap of $9.49 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.33 and a beta of 1.14.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Stanley Black & Decker had a net margin of 1.92% and a return on equity of 7.50%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm posted $0.56 earnings per share. Stanley Black & Decker’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Stanley Black & Decker will post 5.16 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Tuesday, June 3rd. Stanley Black & Decker’s dividend payout ratio (DPR) is 136.10%.

Institutional Investors Weigh In On Stanley Black & Decker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Stanley Black & Decker by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,892 shares of the industrial products company’s stock worth $1,758,000 after buying an additional 149 shares in the last quarter. Mather Group LLC. boosted its stake in Stanley Black & Decker by 11.1% during the 4th quarter. Mather Group LLC. now owns 1,506 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 151 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Stanley Black & Decker by 3.8% during the 1st quarter. Vontobel Holding Ltd. now owns 4,494 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 165 shares in the last quarter. Global X Japan Co. Ltd. increased its position in shares of Stanley Black & Decker by 3.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 5,056 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 172 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of Stanley Black & Decker by 0.7% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 24,854 shares of the industrial products company’s stock valued at $1,911,000 after purchasing an additional 174 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.