Principal Financial Group Inc. Has $13.35 Million Stock Holdings in Stanley Black & Decker, Inc. (NYSE:SWK)

Principal Financial Group Inc. cut its holdings in Stanley Black & Decker, Inc. (NYSE:SWK) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 173,635 shares of the industrial products company’s stock after selling 588 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Stanley Black & Decker worth $13,349,000 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. Golden State Wealth Management LLC increased its stake in shares of Stanley Black & Decker by 1,138.5% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $25,000 after buying an additional 296 shares in the last quarter. Hanson & Doremus Investment Management acquired a new stake in Stanley Black & Decker in the first quarter worth about $31,000. Millstone Evans Group LLC acquired a new stake in Stanley Black & Decker in the fourth quarter worth about $40,000. CX Institutional acquired a new stake in Stanley Black & Decker in the first quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Stanley Black & Decker in the fourth quarter worth about $55,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Stanley Black & Decker Trading Down 1.3%

NYSE:SWK opened at $72.89 on Friday. Stanley Black & Decker, Inc. has a fifty-two week low of $53.91 and a fifty-two week high of $110.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 0.36. The stock has a market capitalization of $11.28 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18. The business’s 50-day simple moving average is $67.33 and its 200-day simple moving average is $74.08.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Stanley Black & Decker had a return on equity of 7.85% and a net margin of 2.40%. Stanley Black & Decker’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Sell-side analysts expect that Stanley Black & Decker, Inc. will post 5.16 earnings per share for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Tuesday, June 3rd. Stanley Black & Decker’s dividend payout ratio (DPR) is 136.10%.

Analyst Upgrades and Downgrades

SWK has been the subject of a number of research reports. Wall Street Zen upgraded Stanley Black & Decker from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group lowered their price objective on Stanley Black & Decker from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Wolfe Research upgraded Stanley Black & Decker from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, July 8th. Robert W. Baird boosted their target price on Stanley Black & Decker from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their target price on Stanley Black & Decker from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.10.

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.