Federated Investors Inc. PA raised its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 3,795.3% in the first quarter, HoldingsChannel.com reports. The firm owned 59,209 shares of the industrial products company’s stock after acquiring an additional 57,689 shares during the period. Federated Investors Inc. PA’s holdings in Stanley Black & Decker were worth $8,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of SWK. Phocas Financial Corp. purchased a new position in Stanley Black & Decker in the 4th quarter worth approximately $63,000. Norges Bank purchased a new stake in Stanley Black & Decker in the fourth quarter worth $164,721,000. Lindbrook Capital LLC bought a new stake in Stanley Black & Decker in the fourth quarter worth $41,000. Comerica Bank boosted its holdings in Stanley Black & Decker by 1.9% in the fourth quarter. Comerica Bank now owns 33,916 shares of the industrial products company’s stock worth $4,183,000 after acquiring an additional 619 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its holdings in Stanley Black & Decker by 76.5% in the fourth quarter. JOYN Advisors Inc. now owns 542 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 235 shares in the last quarter. 86.42% of the stock is owned by hedge funds and other institutional investors.
NYSE:SWK opened at $140.98 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.43 and a current ratio of 0.91. Stanley Black & Decker, Inc. has a 52 week low of $106.41 and a 52 week high of $155.22. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.70 and a beta of 1.31.
Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.32. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.30 billion. Stanley Black & Decker had a return on equity of 17.01% and a net margin of 4.57%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. As a group, analysts anticipate that Stanley Black & Decker, Inc. will post 8.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, June 3rd. Stanley Black & Decker’s payout ratio is 32.39%.
In related news, SVP Jaime A. Ramirez sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were 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 owns 38,356 shares in the company, valued at $5,252,470.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert H. Raff, Jr. sold 6,179 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $151.66, for a total transaction of $937,107.14. Following the completion of the sale, the insider now owns 14,116 shares of the company’s stock, valued at approximately $2,140,832.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,816 shares of company stock worth $17,122,550. Corporate insiders own 1.03% of the company’s stock.
A number of research analysts have recently issued reports on the company. Longbow Research raised Stanley Black & Decker from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, March 22nd. Morgan Stanley upped their price target on Stanley Black & Decker from $149.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Barclays upped their price target on Stanley Black & Decker from $145.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Wells Fargo & Co increased their target price on Stanley Black & Decker from $148.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Zacks Investment Research upgraded Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $157.94.
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Stanley Black & Decker Company Profile
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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