Stanley Black & Decker (NYSE:SWK) Price Target Cut to $60.00 by Analysts at JPMorgan Chase & Co.

Stanley Black & Decker (NYSE:SWK) had its price objective cut by JPMorgan Chase & Co. from $93.00 to $60.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group reduced their target price on Stanley Black & Decker from $121.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Robert W. Baird upped their price objective on shares of Stanley Black & Decker from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Citigroup cut their price target on shares of Stanley Black & Decker from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of Stanley Black & Decker from $94.00 to $86.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their target price on Stanley Black & Decker from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $92.70.

Stanley Black & Decker Stock Performance

Shares of SWK opened at $60.08 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.37 and a current ratio of 1.30. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. Stanley Black & Decker has a 52-week low of $53.91 and a 52-week high of $110.88. The stock’s 50-day simple moving average is $70.65 and its 200 day simple moving average is $81.43.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.75 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the business earned $0.56 earnings per share. Stanley Black & Decker’s revenue was down 3.2% compared to the same quarter last year. Research analysts forecast that Stanley Black & Decker will post 5.16 EPS for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Tuesday, June 3rd. Stanley Black & Decker’s dividend payout ratio is 136.10%.

Institutional Investors Weigh In On Stanley Black & Decker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWK. Vanguard Group Inc. increased its position in shares of Stanley Black & Decker by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 19,186,011 shares of the industrial products company’s stock valued at $1,540,445,000 after acquiring an additional 495,103 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Stanley Black & Decker by 1.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,413,913 shares of the industrial products company’s stock valued at $1,478,454,000 after purchasing an additional 246,800 shares during the period. Capital Research Global Investors raised its position in Stanley Black & Decker by 126.5% during the 4th quarter. Capital Research Global Investors now owns 5,485,421 shares of the industrial products company’s stock valued at $440,424,000 after purchasing an additional 3,063,114 shares during the last quarter. Invesco Ltd. grew its position in shares of Stanley Black & Decker by 22.6% in the 4th quarter. Invesco Ltd. now owns 4,139,196 shares of the industrial products company’s stock worth $332,336,000 after buying an additional 763,219 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Stanley Black & Decker by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,895,026 shares of the industrial products company’s stock valued at $312,732,000 after buying an additional 18,778 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Stanley Black & Decker Company Profile

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.