Essex Financial Services Inc. reduced its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 13.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,378 shares of the industrial products company’s stock after selling 2,050 shares during the quarter. Essex Financial Services Inc.’s holdings in Stanley Black & Decker were worth $1,932,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SWK. Usca Ria LLC purchased a new position in shares of Stanley Black & Decker in the 3rd quarter worth about $28,000. Massey Quick Simon & CO. LLC boosted its holdings in shares of Stanley Black & Decker by 3,900.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 200 shares of the industrial products company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Doyle Wealth Management purchased a new position in shares of Stanley Black & Decker in the 2nd quarter worth about $30,000. Meeder Asset Management Inc. purchased a new position in shares of Stanley Black & Decker in the 2nd quarter worth about $36,000. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Stanley Black & Decker by 134.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 272 shares of the industrial products company’s stock worth $39,000 after buying an additional 156 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.
In other news, insider Robert H. Raff, Jr. sold 3,661 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $151.36, for a total transaction of $554,128.96. Following the sale, the insider now directly owns 14,099 shares in the company, valued at $2,134,024.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider (Phil) Lockyer Phillip purchased 130,434 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were bought at an average price of $0.23 per share, for a total transaction of $29,999.82. Corporate insiders own 1.03% of the company’s stock.
A number of brokerages recently weighed in on SWK. Gabelli downgraded shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Buckingham Research upped their price objective on shares of Stanley Black & Decker from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Wolfe Research set a $160.00 price objective on shares of Stanley Black & Decker and gave the company a “hold” rating in a report on Friday, October 25th. ValuEngine raised shares of Stanley Black & Decker from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Zacks Investment Research downgraded shares of Stanley Black & Decker from a “hold” rating to a “sell” rating and set a $154.00 price objective on the stock. in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $157.47.
NYSE SWK traded down $1.61 during trading on Friday, hitting $157.84. 1,732,441 shares of the company’s stock traded hands, compared to its average volume of 1,175,097. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.46 and a beta of 1.40. Stanley Black & Decker, Inc. has a 12-month low of $110.54 and a 12-month high of $162.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 0.98. The business has a 50 day moving average of $147.26 and a 200-day moving average of $142.23.
Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.10. Stanley Black & Decker had a return on equity of 17.10% and a net margin of 4.80%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Stanley Black & Decker, Inc. will post 8.39 EPS for the current year.
Stanley Black & Decker announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 27th. Stanley Black & Decker’s dividend payout ratio is presently 33.87%.
About Stanley Black & Decker
Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.
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