First Citizens Bank & Trust Co. reduced its stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK) by 17.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 20,857 shares of the industrial products company’s stock after selling 4,469 shares during the period. First Citizens Bank & Trust Co.’s holdings in Stanley Black & Decker were worth $2,935,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in shares of Stanley Black & Decker during the fourth quarter valued at $3,980,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Stanley Black & Decker during the fourth quarter valued at $578,000. UBS Asset Management Americas Inc. boosted its position in shares of Stanley Black & Decker by 1.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 436,012 shares of the industrial products company’s stock valued at $50,005,000 after buying an additional 6,206 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Stanley Black & Decker during the fourth quarter valued at $2,578,000. Finally, Kentucky Retirement Systems acquired a new position in shares of Stanley Black & Decker during the fourth quarter valued at $1,254,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.
Stanley Black & Decker, Inc. (SWK) opened at 139.15 on Friday. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 17.82 and a beta of 1.10. The stock’s 50 day moving average is $142.81 and its 200-day moving average is $135.07. Stanley Black & Decker, Inc. has a 52-week low of $111.89 and a 52-week high of $148.32.
Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Monday, July 24th. The industrial products company reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.18 billion. Stanley Black & Decker had a net margin of 9.92% and a return on equity of 15.36%. Stanley Black & Decker’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. Equities research analysts anticipate that Stanley Black & Decker, Inc. will post $7.30 EPS for the current fiscal year.
The business also recently announced 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. This represents a $2.52 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.58. Stanley Black & Decker’s dividend payout ratio (DPR) is 29.74%.
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Several research firms have commented on SWK. Morgan Stanley lifted their target price on shares of Stanley Black & Decker from $150.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday. BidaskClub cut shares of Stanley Black & Decker from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. UBS AG reissued a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stanley Black & Decker in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Thursday, July 27th. Finally, KeyCorp raised shares of Stanley Black & Decker from a “sector weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $154.00.
In other Stanley Black & Decker news, SVP Jaime A. Ramirez sold 10,440 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $139.56, for a total transaction of $1,457,006.40. Following the completion of the transaction, the senior vice president now owns 41,541 shares of the company’s stock, valued at $5,797,461.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.15% of the company’s stock.
Stanley Black & Decker Company Profile
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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