Stanley Black & Decker, Inc. (NYSE:SWK) Position Cut by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in Stanley Black & Decker, Inc. (NYSE:SWK) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,825 shares of the industrial products company’s stock after selling 2,033 shares during the quarter. New York Life Investment Management LLC’s holdings in Stanley Black & Decker were worth $2,141,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SWK. Clean Energy Transition LLP grew its holdings in shares of Stanley Black & Decker by 13.8% in 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 acquiring an additional 277,507 shares during the last quarter. Federated Hermes Inc. grew its position in Stanley Black & Decker by 1.4% in the 4th quarter. Federated Hermes Inc. now owns 1,647,932 shares of the industrial products company’s stock worth $161,662,000 after purchasing an additional 22,933 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in Stanley Black & Decker by 1.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,527,842 shares of the industrial products company’s stock valued at $127,697,000 after acquiring an additional 20,792 shares in the last quarter. Northern Trust Corp boosted its stake in Stanley Black & Decker by 4.7% during the third quarter. Northern Trust Corp now owns 1,495,531 shares of the industrial products company’s stock worth $124,996,000 after buying an additional 66,536 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Stanley Black & Decker by 6.3% in the third quarter. Schroder Investment Management Group now owns 967,276 shares of the industrial products company’s stock worth $80,845,000 after purchasing an additional 57,121 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SWK. Robert W. Baird reduced their price target on shares of Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. decreased their price objective on shares of Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating for the company in a report on Tuesday, February 6th. Barclays cut their price target on shares of Stanley Black & Decker from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on shares of Stanley Black & Decker from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Stanley Black & Decker currently has a consensus rating of “Hold” and an average price target of $97.00.

Stanley Black & Decker Stock Performance

Shares of Stanley Black & Decker stock opened at $87.01 on Tuesday. The stock has a fifty day simple moving average of $91.58 and a 200 day simple moving average of $91.45. The company has a current ratio of 1.09, a quick ratio of 0.40 and a debt-to-equity ratio of 0.63. Stanley Black & Decker, Inc. has a 12-month low of $73.87 and a 12-month high of $104.21.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.41) EPS. Sell-side analysts expect that Stanley Black & Decker, Inc. will post 4.12 earnings per share for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, May 31st. Stanley Black & Decker’s payout ratio is currently -469.56%.

Stanley Black & Decker 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.