Ieq Capital LLC Acquires New Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Posted by on Jul 27th, 2023

Ieq Capital LLC acquired a new stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,629 shares of the industrial products company’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also modified their holdings of SWK. Price T Rowe Associates Inc. MD lifted its stake in shares of Stanley Black & Decker by 71.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,938,311 shares of the industrial products company’s stock valued at $971,926,000 after buying an additional 5,384,051 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Stanley Black & Decker by 113,894.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,804,886 shares of the industrial products company’s stock worth $360,943,000 after acquiring an additional 4,800,671 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Stanley Black & Decker by 17.5% in 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 during the period. Norges Bank acquired a new stake in Stanley Black & Decker in the 4th quarter valued at $78,260,000. Finally, ProShare Advisors LLC raised its position in Stanley Black & Decker by 55.6% in the fourth quarter. ProShare Advisors LLC now owns 2,158,382 shares of the industrial products company’s stock valued at $162,138,000 after purchasing an additional 771,448 shares during the period. Hedge funds and other institutional investors own 88.97% of the company’s stock.

Stanley Black & Decker Stock Performance

Shares of NYSE SWK opened at $97.15 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.40 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $88.09 and a 200-day simple moving average of $84.95. The company has a market cap of $14.88 billion, a PE ratio of 21.73, a P/E/G ratio of 12.26 and a beta of 1.37. Stanley Black & Decker, Inc. has a 12-month low of $70.24 and a 12-month high of $118.37.

Stanley Black & Decker (NYSE:SWK – Get Free Report) last announced its earnings results on Thursday, May 4th. The industrial products company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.32. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. On average, equities research analysts forecast that Stanley Black & Decker, Inc. will post 0.87 EPS for the current year.

Analyst Ratings Changes

SWK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Stanley Black & Decker from $99.00 to $83.00 and set a “hold” rating on the stock in a research report on Wednesday, April 12th. Wells Fargo & Company lifted their target price on Stanley Black & Decker from $90.00 to $95.00 in a research report on Monday, July 10th. Morgan Stanley dropped their target price on Stanley Black & Decker from $97.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com assumed coverage on Stanley Black & Decker in a research report on Thursday, May 18th. They set a “sell” rating on the stock. One equities research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.45.

About Stanley Black & Decker

(Free Report)

Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.

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Institutional Ownership by Quarter for Stanley Black & Decker (NYSE:SWK)

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