Rafferty Asset Management LLC lifted its stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) by 12.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,762 shares of the industrial products company’s stock after purchasing an additional 1,877 shares during the period. Rafferty Asset Management LLC’s holdings in Stanley Black & Decker were worth $1,401,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Lord Abbett & CO. LLC lifted its stake in Stanley Black & Decker by 20.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 456,595 shares of the industrial products company’s stock worth $38,162,000 after acquiring an additional 78,201 shares in the last quarter. Aviva PLC increased its position in Stanley Black & Decker by 422.9% in the 3rd quarter. Aviva PLC now owns 29,406 shares of the industrial products company’s stock worth $2,458,000 after purchasing an additional 23,782 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Stanley Black & Decker by 2.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 29,878 shares of the industrial products company’s stock worth $2,497,000 after purchasing an additional 606 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Stanley Black & Decker during the 3rd quarter valued at about $2,730,000. Finally, Deutsche Bank AG increased its holdings in shares of Stanley Black & Decker by 10.4% during the 3rd quarter. Deutsche Bank AG now owns 432,420 shares of the industrial products company’s stock valued at $36,142,000 after acquiring an additional 40,679 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.
Stanley Black & Decker Price Performance
SWK stock opened at $89.14 on Friday. The business has a fifty day moving average price of $93.82 and a 200 day moving average price of $89.98. Stanley Black & Decker, Inc. has a fifty-two week low of $73.12 and a fifty-two week high of $104.21. The company has a quick ratio of 0.39, a current ratio of 1.19 and a debt-to-equity ratio of 0.67.
Stanley Black & Decker (NYSE:SWK – Get Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.73 by $0.19. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Stanley Black & Decker had a positive return on equity of 2.34% and a negative net margin of 1.97%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. On average, analysts anticipate that Stanley Black & Decker, Inc. will post 4.12 earnings per share for the current year.
Insider Activity
In related news, SVP Graham Robinson sold 2,000 shares of Stanley Black & Decker stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $91.83, for a total transaction of $183,660.00. Following the completion of the sale, the senior vice president now directly owns 26,435 shares of the company’s stock, valued at $2,427,526.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on SWK shares. Wells Fargo & Company lowered their price objective on Stanley Black & Decker from $105.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Barclays decreased their target price on Stanley Black & Decker from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Citigroup upgraded Stanley Black & Decker from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $118.00 in a research note on Friday, October 27th. JPMorgan Chase & Co. reduced their price objective on Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded Stanley Black & Decker from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.60.
View Our Latest Research Report on Stanley Black & Decker
About Stanley Black & Decker
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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