Lord Abbett & CO. LLC Has $21.17 Million Stock Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Lord Abbett & CO. LLC reduced its holdings in Stanley Black & Decker, Inc. (NYSE:SWKGet Rating) by 2.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 151,434 shares of the industrial products company’s stock after selling 3,304 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.10% of Stanley Black & Decker worth $21,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SWK. Norges Bank acquired a new position in Stanley Black & Decker in the 4th quarter valued at approximately $293,104,000. Parnassus Investments LLC bought a new stake in shares of Stanley Black & Decker in the 1st quarter valued at $181,765,000. Canada Pension Plan Investment Board boosted its stake in shares of Stanley Black & Decker by 756.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 951,606 shares of the industrial products company’s stock valued at $179,492,000 after purchasing an additional 840,481 shares during the last quarter. Laurion Capital Management LP boosted its stake in shares of Stanley Black & Decker by 27,304.8% in the 4th quarter. Laurion Capital Management LP now owns 712,524 shares of the industrial products company’s stock valued at $134,396,000 after purchasing an additional 709,924 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Stanley Black & Decker by 1,042.8% in the 4th quarter. abrdn plc now owns 737,097 shares of the industrial products company’s stock valued at $139,032,000 after purchasing an additional 672,596 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SWK has been the topic of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Stanley Black & Decker from $130.00 to $116.00 in a research note on Friday, July 29th. Barclays cut their target price on shares of Stanley Black & Decker from $149.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. StockNews.com lowered shares of Stanley Black & Decker from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th. Mizuho cut their target price on shares of Stanley Black & Decker from $145.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Stanley Black & Decker from a “buy” rating to a “hold” rating and cut their target price for the stock from $126.00 to $111.00 in a research note on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $115.33.

Stanley Black & Decker Stock Performance

Shares of SWK stock opened at $88.05 on Friday. The firm has a 50-day moving average of $100.42 and a 200-day moving average of $120.71. The company has a market cap of $13.02 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.28. Stanley Black & Decker, Inc. has a one year low of $84.63 and a one year high of $199.20.

Stanley Black & Decker (NYSE:SWKGet Rating) last announced its earnings results on Thursday, July 28th. The industrial products company reported $1.77 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.35). The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Stanley Black & Decker had a net margin of 5.86% and a return on equity of 14.65%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. Equities research analysts forecast that Stanley Black & Decker, Inc. will post 5.53 EPS for the current fiscal year.

Stanley Black & Decker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Tuesday, September 6th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 3.63%. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.79. Stanley Black & Decker’s dividend payout ratio is currently 51.78%.

Insider Activity

In related news, Director Andrea J. Ayers acquired 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average price of $95.69 per share, for a total transaction of $1,483,195.00. Following the completion of the acquisition, the director now owns 15,500 shares of the company’s stock, valued at approximately $1,483,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andrea J. Ayers acquired 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average price of $95.69 per share, for a total transaction of $1,483,195.00. Following the completion of the acquisition, the director now owns 15,500 shares of the company’s stock, valued at approximately $1,483,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Janet Link sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $90.96, for a total transaction of $90,960.00. Following the sale, the senior vice president now owns 28,260 shares of the company’s stock, valued at approximately $2,570,529.60. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

About Stanley Black & Decker

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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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Institutional Ownership by Quarter for Stanley Black & Decker (NYSE:SWK)

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