Stanley Black & Decker, Inc. (SWK) Shares Gap Up Following Earnings Beat

Stanley Black & Decker, Inc. (NYSE:SWK) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $128.48, but opened at $132.71. Stanley Black & Decker shares last traded at $137.56, with a volume of 2,897,151 shares.

The industrial products company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $1.40. The company earned $2.81 billion during the quarter, compared to analyst estimates of $2.76 billion. Stanley Black & Decker had a return on equity of 16.16% and a net margin of 8.46%. Stanley Black & Decker’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, June 7th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, June 5th. Stanley Black & Decker’s dividend payout ratio is presently 35.64%.



Several research firms have recently issued reports on SWK. KeyCorp raised Stanley Black & Decker from a “sector weight” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Friday. Nomura initiated coverage on Stanley Black & Decker in a report on Wednesday, April 12th. They set a “buy” rating and a $145.00 price objective for the company. Zacks Investment Research raised Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a report on Wednesday, March 29th. Barclays PLC increased their price objective on Stanley Black & Decker from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, March 13th. Finally, Imperial Capital reissued an “in-line” rating and set a $125.00 price objective on shares of Stanley Black & Decker in a report on Friday, December 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Stanley Black & Decker currently has an average rating of “Hold” and an average price target of $136.44.

In other Stanley Black & Decker news, VP Steven J. Stafstrom sold 4,064 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $130.00, for a total transaction of $528,320.00. Following the sale, the vice president now owns 8,030 shares in the company, valued at $1,043,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce H. Beatt sold 3,750 shares of the firm’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $124.81, for a total value of $468,037.50. Following the sale, the vice president now owns 17,156 shares in the company, valued at approximately $2,141,240.36. The disclosure for this sale can be found here. Insiders have sold 111,016 shares of company stock worth $14,037,567 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Stanley Black & Decker by 4.0% in the fourth quarter. State Street Corp now owns 7,583,914 shares of the industrial products company’s stock worth $869,793,000 after buying an additional 295,156 shares during the period. Wells Fargo & Company MN boosted its position in shares of Stanley Black & Decker by 9.3% in the third quarter. Wells Fargo & Company MN now owns 4,516,562 shares of the industrial products company’s stock worth $555,446,000 after buying an additional 385,149 shares during the period. Franklin Resources Inc. boosted its position in shares of Stanley Black & Decker by 58.2% in the fourth quarter. Franklin Resources Inc. now owns 2,229,725 shares of the industrial products company’s stock worth $255,736,000 after buying an additional 820,031 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Stanley Black & Decker by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,151,488 shares of the industrial products company’s stock worth $246,767,000 after buying an additional 33,864 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Stanley Black & Decker by 0.7% in the third quarter. Northern Trust Corp now owns 1,856,563 shares of the industrial products company’s stock worth $228,321,000 after buying an additional 12,944 shares during the period. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

The stock’s 50-day moving average price is $130.85 and its 200 day moving average price is $123.17. The company has a market cap of $20.99 billion, a PE ratio of 21.13 and a beta of 1.15.

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About Stanley Black & Decker

Stanley Black & Decker, Inc is a global provider of hand tools, power tools and related accessories, mechanical access solutions, such as automatic doors and commercial locking systems, electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.

5 Day Chart for NYSE:SWK

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