Carret Asset Management LLC Trims Stock Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Carret Asset Management LLC decreased its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 12.7% during the third quarter, Holdings Channel reports. The institutional investor owned 13,470 shares of the industrial products company’s stock after selling 1,953 shares during the quarter. Carret Asset Management LLC’s holdings in Stanley Black & Decker were worth $1,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Stanley Black & Decker by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,530 shares of the industrial products company’s stock worth $8,648,000 after purchasing an additional 1,225 shares in the last quarter. Forsta AP Fonden lifted its stake in shares of Stanley Black & Decker by 2.5% in the 3rd quarter. Forsta AP Fonden now owns 37,100 shares of the industrial products company’s stock valued at $4,086,000 after purchasing an additional 900 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Stanley Black & Decker by 36.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,700 shares of the industrial products company’s stock worth $1,942,000 after buying an additional 4,756 shares in the last quarter. Heritage Financial Services LLC acquired a new stake in Stanley Black & Decker during the third quarter valued at $253,000. Finally, Ballentine Partners LLC purchased a new position in Stanley Black & Decker in the third quarter valued at $216,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SWK has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on Stanley Black & Decker from $110.00 to $104.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on Stanley Black & Decker from $80.00 to $88.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Barclays boosted their price target on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, UBS Group lifted their target price on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Stanley Black & Decker currently has a consensus rating of “Hold” and an average target price of $106.13.

Insider Transactions at Stanley Black & Decker

In related news, SVP Janet Link sold 13,520 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $103.91, for a total value of $1,404,863.20. Following the completion of the sale, the senior vice president now owns 31,960 shares of the company’s stock, valued at approximately $3,320,963.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Stanley Black & Decker Stock Performance

NYSE:SWK opened at $101.98 on Friday. The company has a market cap of $15.70 billion, a P/E ratio of -52.57, a P/E/G ratio of 2.78 and a beta of 1.24. Stanley Black & Decker, Inc. has a twelve month low of $76.57 and a twelve month high of $110.88. The company’s 50-day moving average price is $103.57 and its 200-day moving average price is $93.66. The company has a current ratio of 1.27, a quick ratio of 0.42 and a debt-to-equity ratio of 0.64.

Stanley Black & Decker (NYSE:SWK) last released its earnings results on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.02 billion. Stanley Black & Decker had a negative net margin of 1.87% and a positive return on equity of 6.06%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. On average, sell-side analysts forecast that Stanley Black & Decker, Inc. will post 4.18 earnings per share for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -169.07%.

About Stanley Black & Decker

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.