Stanley Black & Decker (NYSE:SWK) Price Target Cut to $92.00 by Analysts at Wells Fargo & Company

Stanley Black & Decker (NYSE:SWK) had its price target lowered by Wells Fargo & Company from $98.00 to $92.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on SWK. Robert W. Baird decreased their price target on Stanley Black & Decker from $82.00 to $80.00 and set a neutral rating for the company in a research note on Thursday, April 18th. JPMorgan Chase & Co. decreased their price target on Stanley Black & Decker from $89.00 to $80.00 and set an underweight rating for the company in a research note on Tuesday, February 6th. Finally, Barclays decreased their price target on Stanley Black & Decker from $107.00 to $100.00 and set an overweight rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $97.00.

Stanley Black & Decker Price Performance

Stanley Black & Decker stock traded up $0.81 during midday trading on Friday, reaching $85.80. 3,145,797 shares of the stock traded hands, compared to its average volume of 1,691,942. The stock’s fifty day moving average is $91.64 and its 200-day moving average is $91.23. Stanley Black & Decker has a 12 month low of $73.87 and a 12 month high of $104.21. The stock has a market cap of $13.20 billion, a P/E ratio of -124.35, a PEG ratio of 2.29 and a beta of 1.33. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.63.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.83 billion. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned ($0.41) EPS. As a group, equities research analysts anticipate that Stanley Black & Decker will post 4.13 EPS for the current year.

Stanley Black & Decker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, May 31st. Stanley Black & Decker’s payout ratio is -469.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SWK. Norges Bank acquired a new position in Stanley Black & Decker during the 4th quarter valued at about $133,952,000. International Assets Investment Management LLC increased its position in Stanley Black & Decker by 9,029.0% during the 4th quarter. International Assets Investment Management LLC now owns 421,304 shares of the industrial products company’s stock valued at $41,330,000 after buying an additional 416,689 shares in the last quarter. Kodai Capital Management LP purchased a new stake in Stanley Black & Decker during the 4th quarter valued at about $32,679,000. Price T Rowe Associates Inc. MD grew its stake in Stanley Black & Decker by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,159,917 shares of the industrial products company’s stock valued at $1,683,389,000 after purchasing an additional 279,866 shares during the last quarter. Finally, Clean Energy Transition LLP grew its stake in Stanley Black & Decker by 13.8% during the 3rd quarter. Clean Energy Transition LLP now owns 2,292,331 shares of the industrial products company’s stock valued at $191,593,000 after purchasing an additional 277,507 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.