Citigroup Inc. grew its stake in Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) by 45.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 170,031 shares of the industrial products company’s stock after acquiring an additional 53,310 shares during the period. Citigroup Inc. owned about 0.11% of Stanley Black & Decker worth $13,701,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its stake in Stanley Black & Decker by 43.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,868 shares of the industrial products company’s stock worth $634,000 after acquiring an additional 2,366 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Stanley Black & Decker during the 1st quarter worth approximately $781,000. AMG National Trust Bank lifted its holdings in Stanley Black & Decker by 455.0% during the 1st quarter. AMG National Trust Bank now owns 32,712 shares of the industrial products company’s stock worth $2,636,000 after buying an additional 26,818 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Stanley Black & Decker by 20.1% in the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 10,012 shares of the industrial products company’s stock valued at $807,000 after buying an additional 1,675 shares during the period. Finally, MAI Capital Management grew its stake in shares of Stanley Black & Decker by 864.9% in the first quarter. MAI Capital Management now owns 44,210 shares of the industrial products company’s stock worth $3,562,000 after acquiring an additional 39,628 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Insider Buying and Selling at Stanley Black & Decker
In other news, SVP Janet Link sold 3,081 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $98.76, for a total value of $304,279.56. Following the transaction, the senior vice president now owns 32,690 shares of the company’s stock, valued at $3,228,464.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.
Stanley Black & Decker Stock Up 2.7 %
Stanley Black & Decker stock opened at $93.34 on Wednesday. The stock has a 50-day simple moving average of $94.28 and a 200-day simple moving average of $86.33. The company has a market capitalization of $14.30 billion, a P/E ratio of 18.37, a PEG ratio of 5.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.42 and a current ratio of 1.28. Stanley Black & Decker, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $104.21.
Stanley Black & Decker (NYSE:SWK – Get Free Report) last announced its earnings results on Tuesday, August 1st. The industrial products company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.25. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.14 billion. Stanley Black & Decker had a net margin of 4.84% and a return on equity of 0.26%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.77 earnings per share. Equities research analysts expect that Stanley Black & Decker, Inc. will post 1 earnings per share for the current year.
Stanley Black & Decker Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, September 1st. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.80. Stanley Black & Decker’s payout ratio is 62.99%.
Analyst Upgrades and Downgrades
Several research firms recently commented on SWK. Wells Fargo & Company upped their price target on Stanley Black & Decker from $90.00 to $95.00 in a report on Monday, July 10th. Robert W. Baird upped their target price on shares of Stanley Black & Decker from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Mizuho boosted their price target on shares of Stanley Black & Decker from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Morgan Stanley raised their price objective on shares of Stanley Black & Decker from $90.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Finally, Zelman & Associates raised Stanley Black & Decker from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Stanley Black & Decker currently has an average rating of “Hold” and a consensus target price of $96.00.
Read Our Latest Report on SWK
Stanley Black & Decker Profile
(Free Report)
Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.
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