Covington Capital Management Purchases New Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Covington Capital Management purchased a new stake in shares of Stanley Black & Decker, Inc. (NYSE:SWKGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 327 shares of the industrial products company’s stock, valued at approximately $34,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC bought a new position in Stanley Black & Decker during the 1st quarter valued at about $205,000. Wealthcare Advisory Partners LLC raised its stake in shares of Stanley Black & Decker by 2.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,499 shares of the industrial products company’s stock worth $769,000 after acquiring an additional 148 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Stanley Black & Decker in the first quarter worth about $347,000. State of New Jersey Common Pension Fund D raised its stake in shares of Stanley Black & Decker by 1.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 91,952 shares of the industrial products company’s stock worth $12,854,000 after acquiring an additional 1,356 shares during the last quarter. Finally, Cullinan Associates Inc. raised its stake in shares of Stanley Black & Decker by 3.3% in the first quarter. Cullinan Associates Inc. now owns 25,432 shares of the industrial products company’s stock worth $3,555,000 after acquiring an additional 812 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

Stanley Black & Decker Stock Up 1.2 %

Shares of NYSE SWK opened at $86.46 on Tuesday. The stock has a market cap of $12.78 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.72 and a beta of 1.28. The firm has a 50 day moving average price of $97.78 and a 200 day moving average price of $117.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.28 and a current ratio of 0.85. Stanley Black & Decker, Inc. has a 52-week low of $83.89 and a 52-week high of $199.20.

Stanley Black & Decker (NYSE:SWKGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.35). Stanley Black & Decker had a net margin of 5.86% and a return on equity of 14.65%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $3.08 EPS. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts expect that Stanley Black & Decker, Inc. will post 5.53 EPS for the current year.

Stanley Black & Decker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Tuesday, September 6th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 3.70%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.79. Stanley Black & Decker’s payout ratio is presently 51.78%.

Insider Buying and Selling at Stanley Black & Decker

In other Stanley Black & Decker news, Director Andrea J. Ayers acquired 15,500 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average price of $95.69 per share, with a total value of $1,483,195.00. Following the completion of the transaction, the director now directly owns 15,500 shares in the company, valued at approximately $1,483,195. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Andrea J. Ayers purchased 15,500 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost of $95.69 per share, with a total value of $1,483,195.00. Following the completion of the transaction, the director now owns 15,500 shares of the company’s stock, valued at approximately $1,483,195. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Janet Link sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $90.96, for a total transaction of $90,960.00. Following the sale, the senior vice president now directly owns 28,260 shares in the company, valued at $2,570,529.60. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Stanley Black & Decker from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, August 11th. The Goldman Sachs Group dropped their target price on shares of Stanley Black & Decker from $143.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, June 23rd. JPMorgan Chase & Co. lowered their price target on shares of Stanley Black & Decker from $139.00 to $115.00 in a research report on Friday, July 15th. Wolfe Research cut shares of Stanley Black & Decker from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Finally, Vertical Research cut shares of Stanley Black & Decker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $130.00 to $110.00 in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $115.33.

Stanley Black & Decker Company Profile

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Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.

See Also

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Institutional Ownership by Quarter for Stanley Black & Decker (NYSE:SWK)

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