Stanley Black & Decker (NYSE:SWK) Price Target Raised to $94.00 at The Goldman Sachs Group

Stanley Black & Decker (NYSE:SWK) had its price objective hoisted by The Goldman Sachs Group from $82.00 to $94.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other analysts have also weighed in on the company. Robert W. Baird upped their target price on Stanley Black & Decker from $78.00 to $80.00 and gave the company a neutral rating in a report on Monday, July 29th. Barclays lowered Stanley Black & Decker from an overweight rating to an equal weight rating and lowered their target price for the company from $100.00 to $86.00 in a report on Tuesday, June 4th. Wells Fargo & Company reduced their price objective on Stanley Black & Decker from $92.00 to $85.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Finally, UBS Group upped their price objective on Stanley Black & Decker from $110.00 to $121.00 and gave the company a buy rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $99.13.

Stanley Black & Decker Trading Down 2.8 %

NYSE:SWK opened at $98.63 on Wednesday. The stock’s 50 day simple moving average is $86.26 and its 200-day simple moving average is $89.38. Stanley Black & Decker has a 12-month low of $76.26 and a 12-month high of $108.15. The firm has a market cap of $15.19 billion, a P/E ratio of -142.94, a PEG ratio of 2.95 and a beta of 1.25. The company has a current ratio of 1.27, a quick ratio of 0.40 and a debt-to-equity ratio of 0.64.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data 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 firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.02 billion. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. Stanley Black & Decker’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Equities analysts anticipate that Stanley Black & Decker will post 3.98 EPS for the current year.

Stanley Black & Decker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 3rd. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. This represents a $3.28 annualized dividend and a yield of 3.33%. Stanley Black & Decker’s dividend payout ratio is -469.56%.

Insider Buying and Selling

In related news, SVP Janet Link sold 3,442 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $86.80, for a total transaction of $298,765.60. Following the transaction, the senior vice president now directly owns 32,860 shares in the company, valued at $2,852,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stanley Black & Decker

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Stanley Black & Decker by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,410,842 shares of the industrial products company’s stock worth $1,802,975,000 after buying an additional 1,250,925 shares during the period. Federated Hermes Inc. increased its stake in Stanley Black & Decker by 1.4% during the fourth quarter. Federated Hermes Inc. now owns 1,647,932 shares of the industrial products company’s stock worth $161,662,000 after acquiring an additional 22,933 shares during the last quarter. Cooke & Bieler LP increased its stake in Stanley Black & Decker by 4.8% during the second quarter. Cooke & Bieler LP now owns 1,525,438 shares of the industrial products company’s stock worth $121,867,000 after acquiring an additional 69,850 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Stanley Black & Decker by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,348 shares of the industrial products company’s stock worth $137,094,000 after acquiring an additional 16,983 shares during the last quarter. Finally, Norges Bank acquired a new stake in Stanley Black & Decker during the fourth quarter worth about $133,952,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.