UBS Asset Management Americas Inc. Sells 68,096 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. decreased its position in Stanley Black & Decker, Inc. (NYSE:SWK – Get Rating) by 8.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 726,906 shares of the industrial products company’s stock after selling 68,096 shares during the period. UBS Asset Management Americas Inc. owned about 0.49% of Stanley Black & Decker worth $54,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SWK. Achmea Investment Management B.V. bought a new position in shares of Stanley Black & Decker in the first quarter worth approximately $36,000. Clearstead Advisors LLC grew its holdings in shares of Stanley Black & Decker by 166.4% in the second quarter. Clearstead Advisors LLC now owns 349 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 218 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Stanley Black & Decker by 143.1% in the third quarter. Hexagon Capital Partners LLC now owns 700 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 412 shares during the last quarter. Asset Dedication LLC bought a new position in shares of Stanley Black & Decker in the third quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Stanley Black & Decker by 71.7% in the third quarter. Exchange Traded Concepts LLC now owns 735 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 307 shares during the last quarter. Institutional investors own 88.01% of the company’s stock.

Analysts Set New Price Targets

SWK has been the topic of several recent analyst reports. Longbow Research cut shares of Stanley Black & Decker from a “buy” rating to a “neutral” rating in a report on Friday, February 3rd. Wells Fargo & Company lifted their price target on shares of Stanley Black & Decker from $93.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Morgan Stanley lifted their price target on shares of Stanley Black & Decker from $78.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Mizuho raised their price objective on Stanley Black & Decker from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 13th. Finally, Citigroup raised Stanley Black & Decker from a “sell” rating to a “neutral” rating and raised their price objective for the company from $69.00 to $106.00 in a research report on Friday, February 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $99.09.

Stanley Black & Decker Price Performance

Shares of NYSE:SWK opened at $80.72 on Monday. Stanley Black & Decker, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $151.82. The business has a 50-day simple moving average of $86.04 and a two-hundred day simple moving average of $82.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.32 and a current ratio of 1.21. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 10.78 and a beta of 1.31.

Stanley Black & Decker (NYSE:SWK – Get Rating) last issued its earnings results on Thursday, February 2nd. The industrial products company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.23. Stanley Black & Decker had a return on equity of 8.08% and a net margin of 6.24%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. Stanley Black & Decker’s revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Stanley Black & Decker, Inc. will post 0.83 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.96%. Stanley Black & Decker’s dividend payout ratio is currently 47.13%.

Insider Buying and Selling at Stanley Black & Decker

In other Stanley Black & Decker news, SVP Janet Link sold 2,581 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $85.73, for a total transaction of $221,269.13. Following the completion of the sale, the senior vice president now directly owns 36,352 shares in the company, valued at approximately $3,116,456.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

Stanley Black & Decker Profile

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Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Storage segment, and Industrial segment.