Principal Financial Group Inc. Sells 27,069 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Principal Financial Group Inc. cut its stake in Stanley Black & Decker, Inc. (NYSE:SWKGet Rating) by 12.4% in the second quarter, HoldingsChannel.com reports. The fund owned 190,467 shares of the industrial products company’s stock after selling 27,069 shares during the period. Principal Financial Group Inc.’s holdings in Stanley Black & Decker were worth $19,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SWK. LS Investment Advisors LLC bought a new stake in shares of Stanley Black & Decker in the 2nd quarter valued at about $27,000. Heritage Wealth Advisors bought a new stake in shares of Stanley Black & Decker in the 2nd quarter valued at about $27,000. Clear Street Markets LLC increased its stake in shares of Stanley Black & Decker by 280.7% in the 2nd quarter. Clear Street Markets LLC now owns 316 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 233 shares during the last quarter. Covington Capital Management bought a new stake in shares of Stanley Black & Decker in the 2nd quarter valued at about $34,000. Finally, Achmea Investment Management B.V. bought a new stake in shares of Stanley Black & Decker in the 1st quarter valued at about $36,000. 87.33% of the stock is owned by institutional investors.

Stanley Black & Decker Trading Up 0.7 %

Shares of Stanley Black & Decker stock opened at $80.76 on Tuesday. Stanley Black & Decker, Inc. has a 12-month low of $70.24 and a 12-month high of $196.52. The stock has a market cap of $11.95 billion, a P/E ratio of 8.86, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a quick ratio of 0.32, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $79.06 and its 200-day moving average is $96.58.

Stanley Black & Decker (NYSE:SWKGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Stanley Black & Decker had a return on equity of 11.77% and a net margin of 8.44%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the prior year, the business posted $2.77 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Stanley Black & Decker, Inc. will post 4.44 earnings per share for the current fiscal year.

Stanley Black & Decker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Thursday, December 1st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 30th. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 35.09%.

Wall Street Analyst Weigh In

SWK has been the subject of several research analyst reports. Credit Suisse Group lowered Stanley Black & Decker from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $79.00 in a research report on Friday, October 14th. Vertical Research lowered Stanley Black & Decker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $130.00 to $110.00 in a research report on Friday, July 29th. Wells Fargo & Company lowered Stanley Black & Decker to an “equal weight” rating in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on Stanley Black & Decker from $111.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, October 13th. Finally, Morgan Stanley lowered Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $110.00 to $82.00 in a research report on Wednesday, October 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Stanley Black & Decker presently has a consensus rating of “Hold” and a consensus price target of $94.08.

Insider Activity at Stanley Black & Decker

In other Stanley Black & Decker news, Director Robert J. Manning purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were acquired at an average price of $85.50 per share, for a total transaction of $2,565,000.00. Following the purchase, the director now owns 30,000 shares in the company, valued at $2,565,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Stanley Black & Decker news, Director Robert J. Manning purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were acquired at an average price of $85.50 per share, for a total transaction of $2,565,000.00. Following the purchase, the director now owns 30,000 shares in the company, valued at $2,565,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Janet Link sold 1,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $90.96, for a total value of $90,960.00. Following the completion of the sale, the senior vice president now owns 28,260 shares in the company, valued at approximately $2,570,529.60. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Stanley Black & Decker Company Profile

(Get Rating)

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.

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

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