Bank of Nova Scotia Reduces Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Bank of Nova Scotia cut its position in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 20.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,716 shares of the industrial products company's stock after selling 7,447 shares during the quarter. Bank of Nova Scotia's holdings in Stanley Black & Decker were worth $2,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Stanley Black & Decker by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,413,913 shares of the industrial products company's stock worth $1,478,454,000 after buying an additional 246,800 shares during the period. Capital Research Global Investors grew its holdings in Stanley Black & Decker by 126.5% in the fourth quarter. Capital Research Global Investors now owns 5,485,421 shares of the industrial products company's stock worth $440,424,000 after purchasing an additional 3,063,114 shares during the period. Invesco Ltd. increased its stake in shares of Stanley Black & Decker by 22.6% during the fourth quarter. Invesco Ltd. now owns 4,139,196 shares of the industrial products company's stock valued at $332,336,000 after purchasing an additional 763,219 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Stanley Black & Decker by 0.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,119,211 shares of the industrial products company's stock valued at $239,805,000 after purchasing an additional 20,742 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Stanley Black & Decker by 44.2% in the 4th quarter. Ameriprise Financial Inc. now owns 2,215,765 shares of the industrial products company's stock worth $177,905,000 after purchasing an additional 679,359 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SWK. Wall Street Zen cut Stanley Black & Decker from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. lowered their price target on Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $80.00 price target on shares of Stanley Black & Decker in a research note on Wednesday, July 30th. Robert W. Baird raised their price objective on shares of Stanley Black & Decker from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Wolfe Research upgraded shares of Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $91.10.

Stanley Black & Decker Stock Performance

Shares of SWK traded up $0.56 during mid-day trading on Friday, hitting $69.30. 946,492 shares of the company traded hands, compared to its average volume of 2,428,631. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.51 and a beta of 1.16. The stock has a 50-day moving average price of $68.66 and a two-hundred day moving average price of $72.64. Stanley Black & Decker, Inc. has a 1 year low of $53.91 and a 1 year high of $110.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 1.04.

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

Stanley Black & Decker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Stanley Black & Decker's previous quarterly dividend of $0.82. Stanley Black & Decker's dividend payout ratio is presently 105.40%.

Stanley Black & Decker Company Profile

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.