Russell Investments Group Ltd. Boosts Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. raised its holdings in Stanley Black & Decker, Inc. (NYSE:SWK – Get Rating) by 41.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,571 shares of the industrial products company’s stock after purchasing an additional 47,047 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Stanley Black & Decker worth $12,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SWK. Price T Rowe Associates Inc. MD raised its holdings in shares of Stanley Black & Decker by 271.9% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 7,554,260 shares of the industrial products company’s stock valued at $568,157,000 after buying an additional 5,523,022 shares during the period. Vanguard Group Inc. grew its stake in Stanley Black & Decker by 17.5% during the 1st quarter. Vanguard Group Inc. now owns 18,623,594 shares of the industrial products company’s stock worth $2,603,393,000 after purchasing an additional 2,774,661 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Stanley Black & Decker by 1,311.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,734,113 shares of the industrial products company’s stock worth $130,423,000 after purchasing an additional 1,611,273 shares in the last quarter. Renaissance Technologies LLC grew its stake in Stanley Black & Decker by 2,300.8% during the 3rd quarter. Renaissance Technologies LLC now owns 840,462 shares of the industrial products company’s stock worth $63,211,000 after purchasing an additional 805,455 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in Stanley Black & Decker by 55.6% during the 4th quarter. ProShare Advisors LLC now owns 2,158,382 shares of the industrial products company’s stock worth $162,138,000 after purchasing an additional 771,448 shares in the last quarter. Hedge funds and other institutional investors own 88.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SWK has been the subject of several analyst reports. Credit Suisse Group boosted their target price on Stanley Black & Decker from $79.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. StockNews.com cut Stanley Black & Decker from a “hold” rating to a “sell” rating in a research report on Friday, April 7th. UBS Group lowered their price objective on Stanley Black & Decker from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 16th. Citigroup raised Stanley Black & Decker from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $69.00 to $106.00 in a research report on Friday, February 3rd. They noted that the move was a valuation call. Finally, Wells Fargo & Company lowered their price objective on Stanley Black & Decker from $105.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.33.

Insider Buying and Selling at Stanley Black & Decker

In other news, SVP Janet Link sold 2,581 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 36,352 shares of the company’s stock, valued at approximately $3,116,456.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Stanley Black & Decker Stock Down 0.9 %

Shares of NYSE SWK opened at $80.45 on Friday. The business has a 50-day moving average price of $80.22 and a 200 day moving average price of $81.40. The company has a quick ratio of 0.40, a current ratio of 1.30 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.32 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 12.64 and a beta of 1.30. Stanley Black & Decker, Inc. has a 52-week low of $70.24 and a 52-week high of $123.08.

Stanley Black & Decker (NYSE:SWK – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.32. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $4.01 billion. Stanley Black & Decker had a return on equity of 3.45% and a net margin of 4.22%. The firm’s revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. Equities research analysts forecast that Stanley Black & Decker, Inc. will post 0.74 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, June 2nd. Stanley Black & Decker’s dividend payout ratio is presently 71.59%.

Stanley Black & Decker Company 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.