Morgan Stanley Lowers Stanley Black & Decker (NYSE:SWK) Price Target to $98.00

Stanley Black & Decker (NYSE:SWK) had its target price cut by Morgan Stanley from $107.00 to $98.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other research firms have also issued reports on SWK. JPMorgan Chase & Co. raised their price target 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. The Goldman Sachs Group boosted their target price on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird decreased their price target on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price objective on Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Barclays lifted their target price on 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $102.29.

Stanley Black & Decker Price Performance

Shares of NYSE:SWK opened at $93.86 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.42 and a current ratio of 1.27. Stanley Black & Decker has a 52 week low of $77.70 and a 52 week high of $110.88. The firm has a market cap of $14.45 billion, a PE ratio of -48.38, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. The firm’s fifty day moving average is $103.52 and its 200-day moving average is $93.75.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts predict that Stanley Black & Decker will post 4.18 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio is currently -169.07%.

Institutional Trading of Stanley Black & Decker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Stanley Black & Decker by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,410,842 shares of the industrial products company’s stock valued at $1,802,975,000 after buying an additional 1,250,925 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Stanley Black & Decker by 14,394.0% in the 3rd quarter. International Assets Investment Management LLC now owns 393,657 shares of the industrial products company’s stock worth $43,353,000 after acquiring an additional 390,941 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Stanley Black & Decker by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,682,585 shares of the industrial products company’s stock valued at $134,444,000 after acquiring an additional 267,013 shares in the last quarter. Sabal Trust CO bought a new stake in Stanley Black & Decker during the 2nd quarter worth approximately $19,878,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Stanley Black & Decker by 8.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,733,749 shares of the industrial products company’s stock worth $218,399,000 after purchasing an additional 212,103 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Stanley Black & Decker Company Profile

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.