Morgan Stanley Cuts Stanley Black & Decker (NYSE:SWK) Price Target to $98.00

Stanley Black & Decker (NYSE:SWK) had its target price lowered by Morgan Stanley from $107.00 to $98.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. StockNews.com raised Stanley Black & Decker from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Robert W. Baird reduced their price objective on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group increased their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their price target on Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.29.

Stanley Black & Decker Trading Up 0.5 %

Shares of SWK opened at $93.38 on Wednesday. Stanley Black & Decker has a 52-week low of $77.70 and a 52-week high of $110.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.42 and a current ratio of 1.29. The business’s fifty day moving average is $103.28 and its 200-day moving average is $93.79. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of -68.16, a PEG ratio of 2.51 and a beta of 1.25.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. Equities analysts anticipate that Stanley Black & Decker will post 4.12 EPS for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s payout ratio is -239.42%.

Institutional Trading of Stanley Black & Decker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Stanley Black & Decker by 7.3% during the first 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. International Assets Investment Management LLC boosted its stake in Stanley Black & Decker by 14,394.0% during the 3rd quarter. International Assets Investment Management LLC now owns 393,657 shares of the industrial products company’s stock valued at $43,353,000 after purchasing an additional 390,941 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Stanley Black & Decker by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,682,585 shares of the industrial products company’s stock worth $134,444,000 after purchasing an additional 267,013 shares in the last quarter. Sabal Trust CO purchased a new stake in shares of Stanley Black & Decker in the second quarter worth approximately $19,878,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Stanley Black & Decker by 8.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,733,749 shares of the industrial products company’s stock valued at $218,399,000 after purchasing an additional 212,103 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.