Investors Sell Stanley Black & Decker Inc. (SWK) on Strength (SWK)
Investors sold shares of Stanley Black & Decker Inc. (NYSE:SWK) on strength during trading hours on Tuesday. $16.80 million flowed into the stock on the tick-up and $51.18 million flowed out of the stock on the tick-down, for a money net flow of $34.38 million out of the stock. Of all equities tracked, Stanley Black & Decker had the 0th highest net out-flow for the day. Stanley Black & Decker traded up $0.86 for the day and closed at $123.61
Several research analysts have recently weighed in on SWK shares. Goldman Sachs Group Inc. started 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. Zacks Investment Research cut shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Imperial Capital reaffirmed a “hold” rating and issued a $107.00 price target on shares of Stanley Black & Decker in a report on Wednesday, June 29th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Stanley Black & Decker in a report on Tuesday, June 28th. Finally, Zelman & Associates cut shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $113.36.
The company’s 50-day moving average is $121.22 and its 200 day moving average is $110.99. The stock has a market capitalization of $18.63 billion and a PE ratio of 19.34.
Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings results on Friday, July 22nd. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.12. The company earned $2.90 billion during the quarter, compared to the consensus estimate of $2.90 billion. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. On average, analysts predict that Stanley Black & Decker Inc. will post $6.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.32 dividend on an annualized basis and a yield of 1.86%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.55.
In related news, VP Craig A. Douglas sold 8,529 shares of Stanley Black & Decker stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $122.62, for a total transaction of $1,045,825.98. Following the completion of the transaction, the vice president now directly owns 31,525 shares of the company’s stock, valued at approximately $3,865,595.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael A. Bartone sold 5,387 shares of Stanley Black & Decker stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $123.24, for a total transaction of $663,893.88. Following the transaction, the vice president now directly owns 26,967 shares of the company’s stock, valued at $3,323,413.08. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its position 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 in the last quarter. Jennison Associates LLC purchased a new position in Stanley Black & Decker during the fourth quarter worth approximately $3,379,000. Ameriprise Financial Inc. boosted its position in Stanley Black & Decker by 171.3% in the fourth quarter. Ameriprise Financial Inc. now owns 586,149 shares of the company’s stock worth $62,560,000 after buying an additional 370,079 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 in 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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