Stanley Black & Decker Inc. (SWK) Hits New 12-Month High at $123.33
Stanley Black & Decker Inc. (NYSE:SWK) shares reached a new 52-week high during trading on Friday . The company traded as high as $123.33 and last traded at $123.27, with a volume of 336,678 shares changing hands. The stock had previously closed at $122.50.
A number of research analysts have commented on the stock. Imperial Capital reissued a “hold” rating on shares of Stanley Black & Decker in a research report on Saturday, April 23rd. Zacks Investment Research downgraded shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Friday. Zelman & Associates cut shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Goldman Sachs Group Inc. assumed coverage on shares of Stanley Black & Decker in a report on Friday, June 10th. They issued a “neutral” rating and a $120.00 price target on the stock. Finally, Wunderlich raised their price target on shares of Stanley Black & Decker from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, April 21st. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Stanley Black & Decker presently has an average rating of “Hold” and an average target price of $113.36.
The firm has a market capitalization of $18.57 billion and a P/E ratio of 19.27. The stock has a 50-day moving average price of $116.09 and a 200-day moving average price of $107.17.
Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.12. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Stanley Black & Decker Inc. will post $6.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.58 per share. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a yield of 1.88%.
In related news, CFO Donald Allan sold 30,371 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $122.50, for a total transaction of $3,720,447.50. Following the sale, the chief financial officer now directly owns 115,225 shares in the company, valued at $14,115,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Craig A. Douglas sold 8,529 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $122.62, for a total transaction of $1,045,825.98. Following the sale, the vice president now owns 31,525 shares in the company, valued at $3,865,595.50. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake in Stanley Black & Decker by 19.8% in the fourth quarter. BlackRock Advisors LLC now owns 314,522 shares of the company’s stock worth $33,569,000 after buying an additional 51,910 shares during the last quarter. KBC Group NV raised its stake in Stanley Black & Decker by 36.0% in the fourth quarter. KBC Group NV now owns 23,161 shares of the company’s stock worth $2,472,000 after buying an additional 6,134 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Stanley Black & Decker by 196.7% in the fourth quarter. State of Tennessee Treasury Department now owns 198,937 shares of the company’s stock worth $21,233,000 after buying an additional 131,885 shares during the last quarter. Affinity Investment Advisors LLC purchased a new stake in Stanley Black & Decker during the fourth quarter worth $1,158,000. Finally, Dimensional Fund Advisors LP raised its stake in Stanley Black & Decker by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,208,024 shares of the company’s stock worth $235,670,000 after buying an additional 31,252 shares during the last quarter.
Stanley Black & Decker, Inc is a provider of hand tools, power tools and related accessories, mechanical access solutions (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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