Cypress Capital Group Trims Holdings in Stanley Black & Decker, Inc. (NYSE:SWK)

Cypress Capital Group cut its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 31.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,099 shares of the industrial products company’s stock after selling 2,740 shares during the quarter. Cypress Capital Group’s holdings in Stanley Black & Decker were worth $469,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Clean Energy Transition LLP grew its position in shares of Stanley Black & Decker by 85.2% in the first quarter. Clean Energy Transition LLP now owns 1,373,433 shares of the industrial products company’s stock valued at $105,590,000 after purchasing an additional 632,029 shares in the last quarter. Nuveen LLC purchased a new position in Stanley Black & Decker during the first quarter worth about $31,811,000. Virtu Financial LLC grew its position in Stanley Black & Decker by 165.0% during the first quarter. Virtu Financial LLC now owns 7,617 shares of the industrial products company’s stock worth $586,000 after buying an additional 4,743 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Stanley Black & Decker by 8.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,084 shares of the industrial products company’s stock worth $3,620,000 after buying an additional 3,686 shares in the last quarter. Finally, Forsta AP Fonden grew its position in Stanley Black & Decker by 84.2% during the first quarter. Forsta AP Fonden now owns 72,400 shares of the industrial products company’s stock worth $5,566,000 after buying an additional 33,100 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SWK. Wolfe Research upgraded Stanley Black & Decker from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Stanley Black & Decker from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Robert W. Baird boosted their target price on Stanley Black & Decker from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $80.00 target price on shares of Stanley Black & Decker in a research report on Wednesday, July 30th. Finally, Barclays cut their price objective on Stanley Black & Decker from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.10.

Stanley Black & Decker Trading Down 0.6%

NYSE SWK opened at $68.87 on Tuesday. Stanley Black & Decker, Inc. has a 1-year low of $53.91 and a 1-year high of $110.88. The company has a current ratio of 1.04, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $68.83 and a 200-day moving average of $72.18. The firm has a market cap of $10.66 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16.

Stanley Black & Decker (NYSE:SWK) last released its earnings results on Tuesday, July 29th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.70. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.09 EPS. Stanley Black & Decker’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Stanley Black & Decker, Inc. will post 5.16 EPS for the current year.

Stanley Black & Decker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 4.8%. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.82. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 104.13%.

Stanley Black & Decker Profile

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.