Stanley Black & Decker, Inc. (SWK) Stake Lowered by Renaissance Group LLC
Renaissance Group LLC reduced its position in Stanley Black & Decker, Inc. (NYSE:SWK) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 240,411 shares of the industrial products company’s stock after selling 4,116 shares during the period. Stanley Black & Decker accounts for 1.2% of Renaissance Group LLC’s investment portfolio, making the stock its 15th largest position. Renaissance Group LLC owned approximately 0.16% of Stanley Black & Decker worth $33,833,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Thompson Davis & CO. Inc. acquired a new stake in shares of Stanley Black & Decker during the first quarter worth about $108,000. Farmers & Merchants Investments Inc. increased its stake in shares of Stanley Black & Decker by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 823 shares of the industrial products company’s stock worth $116,000 after buying an additional 23 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of Stanley Black & Decker by 87.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 986 shares of the industrial products company’s stock worth $139,000 after buying an additional 461 shares during the period. Coconut Grove Bank increased its stake in shares of Stanley Black & Decker by 98.4% in the first quarter. Coconut Grove Bank now owns 1,010 shares of the industrial products company’s stock worth $134,000 after buying an additional 501 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Stanley Black & Decker during the first quarter worth about $140,000. Institutional investors own 83.72% of the company’s stock.
Stanley Black & Decker, Inc. (NYSE:SWK) opened at 138.83 on Monday. The company has a market capitalization of $21.26 billion, a PE ratio of 17.78 and a beta of 1.10. Stanley Black & Decker, Inc. has a 52 week low of $111.89 and a 52 week high of $148.32. The stock’s 50 day moving average price is $141.91 and its 200-day moving average price is $136.13.
Stanley Black & Decker (NYSE:SWK) last issued its earnings results on Monday, July 24th. The industrial products company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. Stanley Black & Decker had a net margin of 9.92% and a return on equity of 15.36%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Stanley Black & Decker’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Stanley Black & Decker, Inc. will post $7.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, August 30th. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.58. This represents a $2.52 dividend on an annualized basis and a yield of 1.82%. Stanley Black & Decker’s payout ratio is 29.74%.
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A number of brokerages recently issued reports on SWK. Morgan Stanley increased their price objective on Stanley Black & Decker from $150.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. BidaskClub raised Stanley Black & Decker from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. UBS AG reissued a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Stanley Black & Decker in a research note on Tuesday, July 25th. Instinet increased their target price on Stanley Black & Decker from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Stanley Black & Decker presently has a consensus rating of “Buy” and a consensus target price of $154.00.
In other Stanley Black & Decker news, SVP Jaime A. Ramirez sold 10,440 shares of Stanley Black & Decker stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $139.56, for a total transaction of $1,457,006.40. Following the transaction, the senior vice president now directly owns 41,541 shares of the company’s stock, valued at $5,797,461.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is owned by insiders.
About Stanley Black & Decker
Stanley Black & Decker, Inc is a global provider of hand tools, power tools and related accessories, mechanical access solutions, such as automatic doors and commercial locking systems, electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.
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