Retirement Systems of Alabama trimmed its stake in Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,727 shares of the industrial products company’s stock after selling 3,668 shares during the period. Retirement Systems of Alabama’s holdings in Stanley Black & Decker were worth $3,524,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arete Wealth Advisors LLC acquired a new stake in Stanley Black & Decker in the first quarter valued at $286,865,000,000. Desjardins Global Asset Management Inc. increased its holdings in Stanley Black & Decker by 213.8% in the first quarter. Desjardins Global Asset Management Inc. now owns 1,434 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 977 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Stanley Black & Decker in the first quarter valued at $279,000. abrdn plc increased its holdings in Stanley Black & Decker by 6.4% in the first quarter. abrdn plc now owns 180,517 shares of the industrial products company’s stock valued at $14,546,000 after purchasing an additional 10,927 shares during the period. Finally, Wealthfront Advisers LLC increased its holdings in Stanley Black & Decker by 29.1% in the first quarter. Wealthfront Advisers LLC now owns 38,695 shares of the industrial products company’s stock valued at $3,118,000 after purchasing an additional 8,733 shares during the period. 88.97% of the stock is currently owned by institutional investors and hedge funds.
Stanley Black & Decker Price Performance
Shares of NYSE SWK opened at $98.35 on Friday. Stanley Black & Decker, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $104.88. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 12.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.40 and a current ratio of 1.30. The firm’s 50-day simple moving average is $89.06 and its 200 day simple moving average is $85.23.
Stanley Black & Decker Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.29%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.80. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 71.59%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of 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. Morgan Stanley cut their price target on shares of 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. StockNews.com began coverage on shares of Stanley Black & Decker in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Stanley Black & Decker from $90.00 to $95.00 in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $94.45.
Stanley Black & Decker Company Profile
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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