Insider Selling: John F. Lundgren Unloads 75,000 Shares of Stanley Black & Decker Stock (SWK)
Stanley Black & Decker (NYSE:SWK) CEO John F. Lundgren unloaded 75,000 shares of Stanley Black & Decker stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $90.00, for a total value of $6,750,000.00. Following the sale, the chief executive officer now directly owns 673,085 shares of the company’s stock, valued at approximately $60,577,650. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
SWK has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Stanley Black & Decker in a research note on Friday, August 1st. They now have a $92.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Stanley Black & Decker in a research note on Monday, July 28th. They now have a $91.00 price target on the stock, up previously from $82.00. Finally, analysts at Credit Agricole downgraded shares of Stanley Black & Decker from a “buy” rating to an “outperform” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $90.29.
Stanley Black & Decker (NYSE:SWK) traded down 0.29% during mid-day trading on Friday, hitting $89.78. The stock had a trading volume of 834,013 shares. Stanley Black & Decker has a 52-week low of $74.13 and a 52-week high of $92.76. The stock’s 50-day moving average is $87.56 and its 200-day moving average is $84.15. The company has a market cap of $14.030 billion and a price-to-earnings ratio of 23.86.
Stanley Black & Decker (NYSE:SWK) last released its earnings data on Friday, July 25th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.37 by $0.06. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Stanley Black & Decker will post $5.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, September 3rd. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.50.
Stanley Black & Decker Inc is a diversified global provider of power and hand tools, mechanical access solutions (NYSE:SWK), electronic security and monitoring systems and products and services for various industrial applications.
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