John F. Lundgren Sells 75,000 Shares of Stanley Black & Decker Stock (SWK)
Stanley Black & Decker (NYSE:SWK) CEO John F. Lundgren sold 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 transaction of $6,750,000.00. Following the completion of the sale, the chief executive officer now directly owns 673,085 shares in the company, valued at approximately $60,577,650. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Stanley Black & Decker (NYSE:SWK) traded down 0.29% on Friday, hitting $89.78. 834,013 shares of the company’s stock traded hands. 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 P/E ratio of 23.86.
Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Friday, July 25th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts predict that Stanley Black & Decker will post $5.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Friday, September 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, September 3rd. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.50.
A number of research firms have recently commented on SWK. 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $90.29.
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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