BidaskClub Downgrades Stanley Black & Decker, Inc. (NYSE:SWK) to Hold
BidaskClub downgraded shares of Stanley Black & Decker, Inc. (NYSE:SWK) from a buy rating to a hold rating in a research report released on Tuesday, July 25th.
SWK has been the topic of a number of other research reports. Zacks Investment Research upgraded Stanley Black & Decker from a hold rating to a buy rating and set a $153.00 target price on the stock in a research note on Tuesday, May 23rd. Seaport Global Securities assumed coverage on Stanley Black & Decker in a research note on Friday, June 16th. They issued a buy rating and a $160.00 target price on the stock. Wolfe Research initiated coverage on Stanley Black & Decker in a research note on Tuesday, July 11th. They set an outperform rating and a $160.00 price target on the stock. Imperial Capital raised their price target on Stanley Black & Decker from $125.00 to $148.00 and gave the company an in-line rating in a research note on Tuesday, May 9th. Finally, FBR & Co reaffirmed an outperform rating on shares of Stanley Black & Decker in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $153.69.
Stanley Black & Decker (SWK) traded down 0.15% during trading on Tuesday, hitting $142.13. 650,710 shares of the stock were exchanged. The company has a 50-day moving average price of $143.05 and a 200 day moving average price of $134.16. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 18.20 and a beta of 1.10. Stanley Black & Decker has a 1-year low of $111.89 and a 1-year high of $148.32.
Stanley Black & Decker (NYSE:SWK) last posted its earnings results on Monday, July 24th. The industrial products company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.05. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.18 billion. Stanley Black & Decker had a return on equity of 15.36% and a net margin of 9.92%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS. Equities analysts predict that Stanley Black & Decker will post $7.30 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $2.52 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.58. Stanley Black & Decker’s payout ratio is 29.74%.
In other Stanley Black & Decker news, SVP Jaime A. Ramirez sold 10,440 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $139.56, for a total transaction of $1,457,006.40. Following the transaction, the senior vice president now owns 41,541 shares of the company’s stock, valued at $5,797,461.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.15% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Manning & Napier Advisors LLC raised its position in shares of Stanley Black & Decker by 7.3% in the first quarter. Manning & Napier Advisors LLC now owns 27,158 shares of the industrial products company’s stock valued at $3,607,000 after buying an additional 1,845 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in Stanley Black & Decker by 4.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 132,737 shares of the industrial products company’s stock valued at $17,637,000 after buying an additional 5,674 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its stake in Stanley Black & Decker by 8.7% in the first quarter. Atalanta Sosnoff Capital LLC now owns 232,405 shares of the industrial products company’s stock valued at $30,879,000 after buying an additional 18,519 shares in the last quarter. Pensionfund DSM Netherlands purchased a new stake in Stanley Black & Decker during the first quarter valued at about $3,375,000. Finally, Pensionfund Sabic purchased a new stake in Stanley Black & Decker during the first quarter valued at about $1,701,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.
About Stanley Black & Decker
Stanley Black & Decker, Inc is a global provider of hand tools, power tools and related accessories, mechanical access solutions, such as automatic doors and commercial locking systems, electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.
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