Kentucky Retirement Systems Decreases Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

Kentucky Retirement Systems reduced its position in Stanley Black & Decker, Inc. (NYSE:SWK) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,643 shares of the industrial products company’s stock after selling 624 shares during the period. Kentucky Retirement Systems’ holdings in Stanley Black & Decker were worth $1,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Stanley Black & Decker by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,410,842 shares of the industrial products company’s stock valued at $1,802,975,000 after buying an additional 1,250,925 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Stanley Black & Decker by 1.4% during the fourth 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. Dimensional Fund Advisors LP lifted its position in shares of Stanley Black & Decker by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,348 shares of the industrial products company’s stock worth $137,094,000 after purchasing an additional 16,983 shares during the last quarter. Norges Bank bought a new position in shares of Stanley Black & Decker during the fourth quarter worth about $133,952,000. Finally, Schroder Investment Management Group lifted its position in shares of Stanley Black & Decker by 1.4% during the fourth quarter. Schroder Investment Management Group now owns 980,833 shares of the industrial products company’s stock worth $96,220,000 after purchasing an additional 13,557 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Stanley Black & Decker Stock Performance

NYSE SWK traded up $0.81 during trading hours on Monday, hitting $96.24. The company had a trading volume of 1,158,334 shares, compared to its average volume of 1,421,900. Stanley Black & Decker, Inc. has a fifty-two week low of $76.26 and a fifty-two week high of $104.21. The company has a quick ratio of 0.40, a current ratio of 1.09 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $84.83 and a 200-day simple moving average of $89.09. The firm has a market cap of $14.81 billion, a P/E ratio of -139.85, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts predict that Stanley Black & Decker, Inc. will post 3.98 EPS for the current year.

Stanley Black & Decker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.28 annualized dividend and a yield of 3.41%. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.81. Stanley Black & Decker’s dividend payout ratio (DPR) is currently -469.56%.

Insider Activity at Stanley Black & Decker

In related news, SVP Janet Link sold 3,442 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $86.80, for a total transaction of $298,765.60. Following the completion of the transaction, the senior vice president now owns 32,860 shares of the company’s stock, valued at $2,852,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SWK has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Stanley Black & Decker from $78.00 to $80.00 in a research report on Monday. Barclays cut shares of Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $100.00 to $86.00 in a report on Tuesday, June 4th. Finally, Wells Fargo & Company decreased their target price on Stanley Black & Decker from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.67.

Stanley Black & Decker Company 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.