Sumitomo Mitsui Trust Group Inc. lowered its holdings in Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) by 16.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,060 shares of the industrial products company’s stock after selling 11,320 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Stanley Black & Decker were worth $5,144,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of SWK. Mirae Asset Global Investments Co. Ltd. acquired a new position in Stanley Black & Decker in the third quarter valued at about $5,222,000. Cidel Asset Management Inc. acquired a new stake in shares of Stanley Black & Decker during the third quarter valued at about $281,000. Americana Partners LLC raised its stake in shares of Stanley Black & Decker by 1.9% in the 3rd quarter. Americana Partners LLC now owns 120,150 shares of the industrial products company’s stock valued at $10,644,000 after acquiring an additional 2,188 shares during the period. State of Wyoming raised its stake in shares of Stanley Black & Decker by 110.5% in the 3rd quarter. State of Wyoming now owns 5,788 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 3,039 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Stanley Black & Decker by 43.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 67,350 shares of the industrial products company’s stock worth $5,967,000 after acquiring an additional 20,300 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
Key Stories Impacting Stanley Black & Decker
Here are the key news stories impacting Stanley Black & Decker this week:
- Positive Sentiment: SWK reported Q3 earnings per share of $2.31, well above the $1.55 analyst consensus, and raised its outlook. The results helped send shares climbing 11.4% after the announcement. Stanley Black & Decker lifts outlook, but tariff refunds boosted Q3
- Positive Sentiment: The company announced a $1 billion share buyback, which could support demand for its stock. Equity buyback announcement
- Positive Sentiment: Citigroup raised its price target to $140 and maintained a Buy rating, implying further potential upside. Citigroup rating information
- Neutral Sentiment: Analyst views are mixed: Wells Fargo raised its target to $115 but kept an Equal Weight rating, while Baird lifted its target to $115. Wells Fargo rating information Baird price target update
- Negative Sentiment: Tariff refunds contributed to the Q3 earnings beat, raising questions about how much of the improvement can continue. Revenue of $3.73 billion was also slightly below the $3.74 billion consensus. Q3 earnings beat driven by tariff refunds
Stanley Black & Decker Stock Down 0.2%
Shares of NYSE:SWK traded down $0.20 during trading on Friday, hitting $115.06. The company’s stock had a trading volume of 1,894,565 shares, compared to its average volume of 1,473,636. The business has a 50 day moving average price of $94.71 and a two-hundred day moving average price of $86.32. The company has a market capitalization of $17.38 billion, a PE ratio of 20.58, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.43. Stanley Black & Decker, Inc. has a fifty-two week low of $61.90 and a fifty-two week high of $122.68.
Stanley Black & Decker (NYSE:SWK – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.76. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Stanley Black & Decker had a return on equity of 8.78% and a net margin of 4.07%. As a group, research analysts expect that Stanley Black & Decker, Inc. will post 5.66 EPS for the current fiscal year.
Stanley Black & Decker Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.36 annualized dividend and a yield of 2.9%. Stanley Black & Decker’s dividend payout ratio is 60.11%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SWK. Citigroup increased their price objective on shares of Stanley Black & Decker from $107.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen lowered Stanley Black & Decker from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Wells Fargo & Company upped their price target on Stanley Black & Decker from $90.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley set a $100.00 price target on Stanley Black & Decker in a research report on Tuesday, October 6th. Finally, Robert W. Baird lifted their price objective on Stanley Black & Decker from $84.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.09.
Check Out Our Latest Stock Report on SWK
Stanley Black & Decker Company Profile
Stanley Black & Decker, Inc is a global manufacturer of tools, outdoor products and related equipment. The company serves professional contractors, industrial customers, do-it-yourself consumers and outdoor enthusiasts through a portfolio that includes power tools, hand tools, storage solutions, accessories, lawn and garden equipment, and other outdoor products.
Its brands include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, Cub Cadet, Hustler and Troy-Bilt. Products are sold through retailers, distributors, e-commerce channels and other commercial outlets, supporting construction, maintenance, manufacturing, automotive repair and residential applications.
The company was formed in 2010 through the merger of The Stanley Works and The Black & Decker Corporation.
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