Carnegie Investment Counsel Invests $357,000 in Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• Carnegie Investment Counsel purchased a new stake in Stanley Black & Decker worth approximately $357,000 by acquiring 4,652 shares during the first quarter.
• Stanley Black & Decker recently declared a quarterly dividend of $0.83, representing a 4.49% dividend yield and an increase from its previous dividend of $0.82.
• The company's stock is experiencing positive movement, with a recent increase of 1.7%, and a current trading price around $73.96.

Carnegie Investment Counsel bought a new stake in Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,652 shares of the industrial products company's stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC acquired a new stake in shares of Stanley Black & Decker in the first quarter valued at approximately $3,807,000. Oak Thistle LLC bought a new stake in Stanley Black & Decker in the 1st quarter valued at $1,001,000. KLP Kapitalforvaltning AS boosted its position in Stanley Black & Decker by 2.0% during the first quarter. KLP Kapitalforvaltning AS now owns 55,954 shares of the industrial products company's stock worth $4,302,000 after purchasing an additional 1,100 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Stanley Black & Decker by 25.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 164,848 shares of the industrial products company's stock valued at $12,674,000 after purchasing an additional 33,438 shares during the last quarter. Finally, SRH Advisors LLC raised its position in shares of Stanley Black & Decker by 19.3% in the first quarter. SRH Advisors LLC now owns 3,183 shares of the industrial products company's stock valued at $245,000 after purchasing an additional 516 shares during the period. Institutional investors own 87.77% of the company's stock.

Stanley Black & Decker Stock Up 1.7%

NYSE SWK opened at $73.96 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Stanley Black & Decker, Inc. has a 1-year low of $53.91 and a 1-year high of $110.88. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.44 and a beta of 1.18. The company has a 50 day moving average of $68.37 and a 200-day moving average of $73.44.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.07. Stanley Black & Decker had a return on equity of 7.85% and a net margin of 2.40%. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter last year, the business earned $0.56 earnings per share. Stanley Black & Decker's revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Stanley Black & Decker, Inc. will post 5.16 earnings per share for the current fiscal year.

Stanley Black & Decker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.83 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.49%. This is a boost from Stanley Black & Decker's previous quarterly dividend of $0.82. Stanley Black & Decker's dividend payout ratio (DPR) is presently 136.10%.

Analyst Upgrades and Downgrades

SWK has been the topic of several research analyst reports. UBS Group dropped their price objective on shares of Stanley Black & Decker from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wolfe Research raised shares of Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, July 8th. Barclays raised shares of Stanley Black & Decker from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $69.00 to $90.00 in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating on the stock in a research report on Monday, May 5th. Finally, Robert W. Baird increased 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 report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Stanley Black & Decker currently has an average rating of "Hold" and an average price target of $93.40.

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.

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