New York State Teachers Retirement System Sells 7,101 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

New York State Teachers Retirement System lessened its stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 121,790 shares of the industrial products company’s stock after selling 7,101 shares during the quarter. New York State Teachers Retirement System’s holdings in Stanley Black & Decker were worth $9,363,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Stanley Black & Decker by 1,138.5% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $25,000 after buying an additional 296 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in Stanley Black & Decker during the 1st quarter valued at about $31,000. Millstone Evans Group LLC purchased a new position in Stanley Black & Decker during the 4th quarter valued at about $40,000. SRS Capital Advisors Inc. grew its holdings in Stanley Black & Decker by 61.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 521 shares of the industrial products company’s stock valued at $42,000 after buying an additional 199 shares in the last quarter. Finally, CX Institutional purchased a new position in Stanley Black & Decker during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Stanley Black & Decker Stock Performance

NYSE:SWK opened at $71.17 on Friday. The business has a 50 day moving average of $66.17 and a 200 day moving average of $74.42. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.36 and a beta of 1.18. Stanley Black & Decker, Inc. has a 1-year low of $53.91 and a 1-year high of $110.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 0.36.

Stanley Black & Decker (NYSE:SWK) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.73 billion. Stanley Black & Decker had a return on equity of 7.85% and a net margin of 2.40%. Stanley Black & Decker’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, sell-side analysts predict that Stanley Black & Decker, Inc. will post 5.16 earnings per share for the current fiscal year.

Stanley Black & Decker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were given a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 4.61%. Stanley Black & Decker’s payout ratio is 136.10%.

Wall Street Analysts Forecast Growth

SWK has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Stanley Black & Decker from $60.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. Robert W. Baird boosted their price objective on Stanley Black & Decker from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Stanley Black & Decker from $93.00 to $60.00 and set an “underweight” rating for the company in a report on Monday, May 5th. Barclays raised Stanley Black & Decker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $69.00 to $90.00 in a report on Tuesday, May 13th. Finally, UBS Group cut their price objective on Stanley Black & Decker from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Stanley Black & Decker currently has an average rating of “Hold” and a consensus target price of $92.10.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.