Franklin Resources Inc. Trims Stock Holdings in Stanley Black & Decker, Inc. (NYSE:SWK)

Posted by Defense World Staff on May 30th, 2023

Franklin Resources Inc. reduced its position in shares of Stanley Black & Decker, Inc. (NYSE:SWK – Get Rating) by 76.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,242 shares of the industrial products company’s stock after selling 827,807 shares during the quarter. Franklin Resources Inc. owned about 0.18% of Stanley Black & Decker worth $19,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SWK. Vanguard Group Inc. boosted its position 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 valued at $2,603,393,000 after acquiring an additional 2,774,661 shares in the last quarter. State Street Corp boosted its position in Stanley Black & Decker by 7.4% during the 3rd quarter. State Street Corp now owns 8,414,788 shares of the industrial products company’s stock valued at $632,876,000 after acquiring an additional 578,581 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Stanley Black & Decker by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,039,425 shares of the industrial products company’s stock valued at $604,645,000 after acquiring an additional 59,090 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Stanley Black & Decker by 271.9% during 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 acquiring an additional 5,523,022 shares in the last quarter. Finally, Cooke & Bieler LP boosted its position in Stanley Black & Decker by 1.9% during the 3rd quarter. Cooke & Bieler LP now owns 2,277,776 shares of the industrial products company’s stock valued at $171,312,000 after acquiring an additional 42,025 shares in the last quarter. 88.01% of the stock is currently owned by hedge funds and other institutional investors.

Stanley Black & Decker Stock Performance

NYSE SWK opened at $78.70 on Tuesday. The stock has a 50-day simple moving average of $79.81 and a two-hundred day simple moving average of $81.77. The firm has a market capitalization of $12.05 billion, a P/E ratio of 17.61, a PEG ratio of 9.83 and a beta of 1.30. Stanley Black & Decker, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $121.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.40 and a current ratio of 1.30.

Stanley Black & Decker (NYSE:SWK – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The industrial products company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.32. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $4.01 billion. Stanley Black & Decker had a return on equity of 3.45% and a net margin of 4.22%. The company’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. On average, equities analysts forecast that Stanley Black & Decker, Inc. will post 0.89 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Monday, June 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $3.20 annualized dividend and a dividend yield of 4.07%. Stanley Black & Decker’s dividend payout ratio is presently 71.59%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SWK. UBS Group dropped their target price on Stanley Black & Decker from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 16th. Credit Suisse Group raised their price objective on Stanley Black & Decker from $79.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Morgan Stanley lowered their price objective on Stanley Black & Decker from $97.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. StockNews.com initiated coverage on Stanley Black & Decker in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Citigroup raised Stanley Black & Decker from a “sell” rating to a “neutral” rating and raised 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stanley Black & Decker presently has a consensus rating of “Hold” and a consensus price target of $95.33.

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.