Bank of America Corp DE Sells 310,418 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Bank of America Corp DE lowered its position in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 29.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 735,518 shares of the industrial products company's stock after selling 310,418 shares during the quarter. Bank of America Corp DE owned about 0.48% of Stanley Black & Decker worth $59,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bearing Point Capital LLC acquired a new position in Stanley Black & Decker in the fourth quarter valued at about $1,228,000. Ameriprise Financial Inc. grew its position in Stanley Black & Decker by 44.2% in the fourth quarter. Ameriprise Financial Inc. now owns 2,215,765 shares of the industrial products company's stock valued at $177,905,000 after acquiring an additional 679,359 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Stanley Black & Decker by 187.5% in the fourth quarter. Aptus Capital Advisors LLC now owns 9,517 shares of the industrial products company's stock valued at $764,000 after acquiring an additional 6,207 shares during the last quarter. Wahed Invest LLC grew its position in Stanley Black & Decker by 6.5% in the fourth quarter. Wahed Invest LLC now owns 3,974 shares of the industrial products company's stock valued at $319,000 after acquiring an additional 243 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Stanley Black & Decker by 13.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,298 shares of the industrial products company's stock valued at $586,000 after acquiring an additional 871 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Robert W. Baird upped their price objective on Stanley Black & Decker from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Citigroup cut their price target on Stanley Black & Decker from $135.00 to $118.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group began coverage on Stanley Black & Decker in a report on Wednesday, February 19th. They set a "buy" rating and a $103.00 price objective on the stock. Finally, Barclays raised Stanley Black & Decker from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $69.00 to $90.00 in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $91.10.

Stanley Black & Decker Price Performance

Shares of Stanley Black & Decker stock traded down $0.80 during trading on Monday, hitting $70.66. 2,064,077 shares of the stock traded hands, compared to its average volume of 1,866,141. The firm's fifty day moving average is $67.19 and its 200-day moving average is $79.18. The company has a quick ratio of 0.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.64. Stanley Black & Decker, Inc. has a 52 week low of $53.91 and a 52 week high of $110.88. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 1.33 and a beta of 1.19.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.73 billion. Stanley Black & Decker had a return on equity of 7.50% and a net margin of 1.92%. Stanley Black & Decker's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. Research analysts expect that Stanley Black & Decker, Inc. will post 5.16 EPS for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be given a $0.82 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 4.64%. Stanley Black & Decker's dividend payout ratio is currently 136.10%.

About Stanley Black & Decker

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.