Wells Fargo & Company Cuts Stanley Black & Decker (NYSE:SWK) Price Target to $75.00

Stanley Black & Decker (NYSE:SWK) had its price target decreased by Wells Fargo & Company from $80.00 to $75.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on SWK. The Goldman Sachs Group restated a “neutral” rating and set a $80.00 price target on shares of Stanley Black & Decker in a report on Wednesday, July 30th. Barclays decreased their price objective on Stanley Black & Decker from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Jefferies Financial Group set a $86.00 target price on Stanley Black & Decker and gave the stock a “buy” rating in a report on Monday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Stanley Black & Decker in a research note on Wednesday, October 8th. Finally, Wolfe Research raised Stanley Black & Decker from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.10.

Stanley Black & Decker Price Performance

Shares of Stanley Black & Decker stock traded up $0.74 during trading on Wednesday, reaching $68.21. 1,308,140 shares of the company’s stock were exchanged, compared to its average volume of 2,323,882. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 1.04. The company has a market cap of $10.56 billion, a P/E ratio of 21.65, a PEG ratio of 1.46 and a beta of 1.21. Stanley Black & Decker has a 1-year low of $53.91 and a 1-year high of $93.63. The firm’s 50-day moving average price is $72.47 and its 200 day moving average price is $69.83.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $2.85 earnings per share for the quarter. Stanley Black & Decker had a net margin of 3.15% and a return on equity of 7.76%. The company had revenue of $3.72 billion for the quarter. As a group, research analysts anticipate that Stanley Black & Decker will post 5.16 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, December 1st. Stanley Black & Decker’s payout ratio is presently 114.88%.

Hedge Funds Weigh In On Stanley Black & Decker

Institutional investors have recently made changes to their positions in the stock. Vest Financial LLC grew its position in Stanley Black & Decker by 46.4% in the 2nd quarter. Vest Financial LLC now owns 903,163 shares of the industrial products company’s stock valued at $61,189,000 after purchasing an additional 286,331 shares during the period. Rempart Asset Management Inc. boosted its stake in Stanley Black & Decker by 22.5% during the 2nd quarter. Rempart Asset Management Inc. now owns 156,704 shares of the industrial products company’s stock valued at $10,617,000 after purchasing an additional 28,826 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Stanley Black & Decker by 3.0% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,538,360 shares of the industrial products company’s stock worth $104,224,000 after purchasing an additional 45,107 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Stanley Black & Decker by 474.4% in the second quarter. Nordea Investment Management AB now owns 89,582 shares of the industrial products company’s stock worth $6,077,000 after purchasing an additional 73,987 shares during the last quarter. Finally, Martin Capital Partners LLC bought a new position in shares of Stanley Black & Decker in the second quarter valued at approximately $507,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.