AIA Group Ltd Acquires 11,018 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• AIA Group Ltd increased its stake in Stanley Black & Decker, Inc. by 256.1% in the first quarter, holding shares worth approximately $1.18 million.
• Stanley Black & Decker announced a quarterly dividend of $0.83 per share, reflecting a yield of 4.8%, up from the previous dividend of $0.82.
• Despite beating earnings expectations with an EPS of $1.08, the company reported a 6.2% decline in revenue compared to the same quarter last year.

AIA Group Ltd increased its stake in Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 256.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,321 shares of the industrial products company's stock after purchasing an additional 11,018 shares during the period. AIA Group Ltd's holdings in Stanley Black & Decker were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SWK. Wellington Management Group LLP boosted its stake in Stanley Black & Decker by 14.0% in the 4th quarter. Wellington Management Group LLP now owns 9,673 shares of the industrial products company's stock worth $777,000 after purchasing an additional 1,188 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Stanley Black & Decker during the 4th quarter worth about $15,607,000. Treasurer of the State of North Carolina boosted its stake in shares of Stanley Black & Decker by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 67,578 shares of the industrial products company's stock worth $5,426,000 after buying an additional 420 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Stanley Black & Decker by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,109 shares of the industrial products company's stock worth $731,000 after buying an additional 3,250 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Stanley Black & Decker by 5.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 14,802 shares of the industrial products company's stock worth $1,189,000 after buying an additional 828 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of Stanley Black & Decker from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Stanley Black & Decker from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Barclays reduced their price objective on shares of Stanley Black & Decker from $90.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group cut their target price on shares of Stanley Black & Decker from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $91.10.

Stanley Black & Decker Stock Performance

Stanley Black & Decker stock traded down $0.35 during trading hours on Friday, hitting $74.07. The company had a trading volume of 1,557,598 shares, compared to its average volume of 2,150,106. The firm has a market cap of $11.47 billion, a PE ratio of 23.51, a PEG ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.34. Stanley Black & Decker, Inc. has a one year low of $53.91 and a one year high of $110.88. The firm has a 50-day moving average of $69.52 and a 200 day moving average of $71.99.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.70. The firm had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. Stanley Black & Decker had a net margin of 3.15% and a return on equity of 7.76%. The business's revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. On average, sell-side analysts expect that Stanley Black & Decker, Inc. will post 5.16 earnings per share for the current year.

Stanley Black & Decker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. This is a boost from Stanley Black & Decker's previous quarterly dividend of $0.82. This represents a $3.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Stanley Black & Decker's payout ratio is 104.13%.

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.