Stanley Black & Decker (NYSE:SWK) Coverage Initiated by Analysts at Bank of America
Bank of America began coverage on shares of Stanley Black & Decker (NYSE:SWK) in a report published on Friday morning, 24/7 WallStreet reports. The firm issued an underperform rating and a $140.00 price objective on the industrial products company’s stock.
SWK has been the topic of a number of other research reports. Zacks Investment Research lowered Stanley Black & Decker from a hold rating to a sell rating in a research note on Monday, February 25th. Wells Fargo & Co increased their price objective on Stanley Black & Decker from $141.00 to $150.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Longbow Research raised Stanley Black & Decker from a neutral rating to a buy rating and set a $160.00 price objective on the stock in a research note on Friday, March 22nd. Barclays increased their price objective on Stanley Black & Decker from $135.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday, April 3rd. Finally, Buckingham Research increased their price objective on Stanley Black & Decker from $122.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Stanley Black & Decker presently has a consensus rating of Buy and an average target price of $157.35.
Shares of SWK stock opened at $143.45 on Friday. Stanley Black & Decker has a fifty-two week low of $106.41 and a fifty-two week high of $155.22. The firm has a market capitalization of $21.74 billion, a PE ratio of 17.60, a PEG ratio of 1.77 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.91 and a quick ratio of 0.43.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, June 3rd. Stanley Black & Decker’s payout ratio is 32.39%.
In other Stanley Black & Decker news, insider Robert H. Raff, Jr. sold 6,179 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $151.66, for a total value of $937,107.14. Following the sale, the insider now directly owns 14,116 shares of the company’s stock, valued at approximately $2,140,832.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jaime A. Ramirez sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $136.94, for a total value of $136,940.00. Following the completion of the sale, the senior vice president now directly owns 38,356 shares in the company, valued at $5,252,470.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,816 shares of company stock worth $17,122,550. 1.03% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Phocas Financial Corp. acquired a new stake in Stanley Black & Decker in the 4th quarter worth about $63,000. Yorktown Management & Research Co Inc acquired a new stake in Stanley Black & Decker in the 1st quarter worth about $470,000. Norges Bank acquired a new position in shares of Stanley Black & Decker in the 4th quarter valued at about $164,721,000. Lindbrook Capital LLC acquired a new position in shares of Stanley Black & Decker in the 4th quarter valued at about $41,000. Finally, King Luther Capital Management Corp lifted its stake in shares of Stanley Black & Decker by 3.1% in the 1st quarter. King Luther Capital Management Corp now owns 89,099 shares of the industrial products company’s stock valued at $12,133,000 after purchasing an additional 2,665 shares in the last quarter. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
About Stanley Black & Decker
Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.
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