Canada Pension Plan Investment Board purchased a new position in Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 184,700 shares of the industrial products company’s stock, valued at approximately $17,384,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Stanley Black & Decker during the 2nd quarter worth about $1,006,417,000. Norges Bank purchased a new stake in Stanley Black & Decker in the fourth quarter valued at approximately $133,961,000. Confluence Investment Management LLC acquired a new position in Stanley Black & Decker during the second quarter worth approximately $126,909,000. Bank of New York Mellon Corp purchased a new position in Stanley Black & Decker during the second quarter worth approximately $123,843,000. Finally, Freestone Grove Partners LP purchased a new position in Stanley Black & Decker during the third quarter worth approximately $95,602,000. Institutional investors and hedge funds own 87.77% of the company’s stock.
Stanley Black & Decker Stock Down 1.4%
Shares of NYSE SWK opened at $97.86 on Friday. The stock has a fifty day moving average price of $94.44 and a 200 day moving average price of $83.72. The company has a current ratio of 1.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Stanley Black & Decker, Inc. has a 12-month low of $61.90 and a 12-month high of $104.68. The company has a market cap of $14.78 billion, a P/E ratio of 23.87, a P/E/G ratio of 1.33 and a beta of 1.16.
Stanley Black & Decker Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.83. Stanley Black & Decker’s dividend payout ratio (DPR) is currently 80.98%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on SWK shares. Wells Fargo & Company boosted their price objective on shares of Stanley Black & Decker from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, June 18th. Weiss Ratings upgraded Stanley Black & Decker from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Stanley Black & Decker from $65.00 to $75.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. Morgan Stanley set a $96.00 price objective on Stanley Black & Decker in a report on Monday, August 10th. Finally, Wall Street Zen lowered Stanley Black & Decker from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.25.
Read Our Latest Analysis on Stanley Black & Decker
Stanley Black & Decker Profile
Stanley Black & Decker, Inc (NYSE:SWK) is a leading global manufacturer of industrial tools, engineered fastening systems, and security products. The company’s portfolio includes power tools, hand tools, accessories, and storage solutions marketed under well-known brands such as DEWALT, Stanley, Craftsman and Black & Decker. In addition to its core tools and hardware offerings, the company provides customized assembly and installation systems for the automotive, electronics and aerospace industries.
Operations are organized across three principal business segments.
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