Allspring Global Investments Holdings LLC Lowers Holdings in Stanley Black & Decker, Inc. (NYSE:SWK)

Allspring Global Investments Holdings LLC reduced its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,633 shares of the industrial products company’s stock after selling 1,376 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stanley Black & Decker were worth $841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. raised its holdings in Stanley Black & Decker by 11.0% in the first quarter. Sei Investments Co. now owns 137,385 shares of the industrial products company’s stock valued at $13,454,000 after acquiring an additional 13,659 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Stanley Black & Decker by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,455 shares of the industrial products company’s stock valued at $2,353,000 after acquiring an additional 11,151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Stanley Black & Decker by 6.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,702 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 297 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Stanley Black & Decker by 6.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 121,614 shares of the industrial products company’s stock worth $11,920,000 after purchasing an additional 7,826 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Stanley Black & Decker by 196.9% in the 1st quarter. Russell Investments Group Ltd. now owns 106,499 shares of the industrial products company’s stock valued at $10,429,000 after buying an additional 70,625 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Stanley Black & Decker Stock Performance

Shares of SWK stock opened at $92.94 on Friday. The stock has a market cap of $14.31 billion, a PE ratio of -67.84, a P/E/G ratio of 2.71 and a beta of 1.24. 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, Inc. has a 1 year low of $77.70 and a 1 year high of $110.88. The stock has a fifty day moving average price of $103.42 and a 200 day moving average price of $93.75.

Stanley Black & Decker (NYSE:SWK) last announced its 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. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. Stanley Black & Decker’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. Sell-side analysts forecast that Stanley Black & Decker, Inc. will post 4.18 earnings per share for the current fiscal year.

Stanley Black & Decker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.28 annualized dividend and a yield of 3.53%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -239.42%.

Analyst Ratings Changes

SWK has been the topic of several research reports. UBS Group raised their price objective on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird dropped their price objective on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Barclays raised their price target 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.29.

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.