Stanley Black & Decker (NYSE:SWK) Price Target Cut to $98.00 by Analysts at Morgan Stanley

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

A number of other research firms also recently weighed in on SWK. UBS Group lifted their price target on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. StockNews.com raised Stanley Black & Decker from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company dropped their price target on Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.29.

Stanley Black & Decker Stock Performance

SWK opened at $93.86 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.42. The business has a fifty day simple moving average of $103.52 and a 200 day simple moving average of $93.75. Stanley Black & Decker has a 1 year low of $77.70 and a 1 year high of $110.88. The company has a market capitalization 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.

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

Stanley Black & Decker Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in Stanley Black & Decker by 7.3% in the 1st 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 purchasing an additional 1,250,925 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Stanley Black & Decker by 8.4% during 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 buying an additional 212,103 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Stanley Black & Decker by 6.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,983,993 shares of the industrial products company’s stock valued at $158,501,000 after acquiring an additional 118,927 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Stanley Black & Decker by 18.9% during 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. Finally, Cooke & Bieler LP grew its position in Stanley Black & Decker by 4.8% during the 2nd 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. Institutional investors own 87.77% of the company’s stock.

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.