Wells Fargo & Company Trims Stanley Black & Decker (NYSE:SWK) Target Price to $92.00

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

A number of other research analysts have also issued reports on SWK. JPMorgan Chase & Co. reduced their price objective on Stanley Black & Decker from $89.00 to $80.00 and set an underweight rating for the company in a research report on Tuesday, February 6th. Robert W. Baird lowered their price target on shares of Stanley Black & Decker from $82.00 to $80.00 and set a neutral rating for the company in a research report on Thursday, April 18th. Finally, Barclays cut their price objective on shares of Stanley Black & Decker from $107.00 to $100.00 and set an overweight rating on the stock in a research report 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, the stock currently has a consensus rating of Hold and an average price target of $97.00.

Stanley Black & Decker Price Performance

Shares of NYSE SWK opened at $85.80 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.40 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of -124.35, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. Stanley Black & Decker has a twelve month low of $73.87 and a twelve month high of $104.21. The business has a 50 day simple moving average of $91.58 and a 200-day simple moving average of $91.39.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 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 negative net margin of 0.66% and a positive return on equity of 3.95%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) EPS. As a group, equities research analysts expect that Stanley Black & Decker will post 4.12 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

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

Institutional Trading of Stanley Black & Decker

Several institutional investors have recently modified their holdings of SWK. Norges Bank bought a new position in shares of Stanley Black & Decker in the fourth quarter valued at $133,952,000. International Assets Investment Management LLC raised its position in shares of Stanley Black & Decker by 9,029.0% during the fourth quarter. International Assets Investment Management LLC now owns 421,304 shares of the industrial products company’s stock worth $41,330,000 after purchasing an additional 416,689 shares during the period. Kodai Capital Management LP purchased a new stake in shares of Stanley Black & Decker during the fourth quarter valued at $32,679,000. Price T Rowe Associates Inc. MD boosted its position in shares of Stanley Black & Decker by 1.7% in 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 period. Finally, Clean Energy Transition LLP raised its holdings 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 worth $191,593,000 after buying an additional 277,507 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Stanley Black & Decker

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.