abrdn plc Sells 23,674 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

abrdn plc cut its holdings in Stanley Black & Decker, Inc. (NYSE:SWK) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,886 shares of the industrial products company’s stock after selling 23,674 shares during the period. abrdn plc’s holdings in Stanley Black & Decker were worth $8,303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SWK. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Stanley Black & Decker by 6.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,784 shares of the industrial products company’s stock valued at $2,819,000 after acquiring an additional 1,776 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Stanley Black & Decker by 2.6% in the first quarter. Janney Montgomery Scott LLC now owns 207,233 shares of the industrial products company’s stock worth $20,294,000 after buying an additional 5,299 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Stanley Black & Decker by 6.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,702 shares of the industrial products company’s stock valued at $460,000 after buying an additional 297 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Stanley Black & Decker by 13.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,257 shares of the industrial products company’s stock valued at $2,180,000 after buying an additional 2,668 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in Stanley Black & Decker by 2.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 49,105 shares of the industrial products company’s stock worth $4,809,000 after acquiring an additional 1,381 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SWK shares. JPMorgan Chase & Co. increased their target price on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. StockNews.com upgraded Stanley Black & Decker from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. UBS Group upped their target price on Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley cut their price target on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays upped their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.29.

Stanley Black & Decker Price Performance

SWK opened at $93.38 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $14.40 billion, a price-to-earnings ratio of -68.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.25. The stock has a fifty day simple moving average of $103.28 and a two-hundred day simple moving average of $93.79. Stanley Black & Decker, Inc. has a 12-month low of $77.70 and a 12-month high of $110.88.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.17. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period last year, the business earned $1.05 EPS. Stanley Black & Decker’s quarterly revenue was down 5.1% compared to the same quarter last year. Research analysts predict that Stanley Black & Decker, Inc. will post 4.12 earnings per share for the current fiscal year.

Stanley Black & Decker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 annualized dividend and a dividend yield of 3.51%. Stanley Black & Decker’s payout ratio is currently -239.42%.

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.