Harbor Capital Advisors Inc. Invests $1.53 Million in Stanley Black & Decker, Inc. $SWK

Key Points

• Harbor Capital Advisors Inc. acquired 22,564 shares of Stanley Black & Decker, valued at approximately $1.53 million, during the second quarter, highlighting significant interest from institutional investors.
• Stanley Black & Decker reported earnings of $1.08 per share, exceeding expectations, despite a 6.2% decrease in revenue year-over-year, which indicates a mixed performance in the market.
• The company's quarterly dividend was increased to $0.83 from the previous $0.82, reflecting a commitment to returning value to shareholders despite a dividend payout ratio of 105.40%.

Harbor Capital Advisors Inc. bought a new position in Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 22,564 shares of the industrial products company's stock, valued at approximately $1,529,000.

A number of other hedge funds also recently bought and sold shares of SWK. Ameriprise Financial Inc. raised its position in Stanley Black & Decker by 59.8% in the 1st quarter. Ameriprise Financial Inc. now owns 3,541,878 shares of the industrial products company's stock valued at $272,294,000 after purchasing an additional 1,326,113 shares in the last quarter. Vulcan Value Partners LLC purchased a new stake in shares of Stanley Black & Decker in the first quarter valued at approximately $72,063,000. Clean Energy Transition LLP raised its holdings in shares of Stanley Black & Decker by 85.2% in the first quarter. Clean Energy Transition LLP now owns 1,373,433 shares of the industrial products company's stock worth $105,590,000 after acquiring an additional 632,029 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Stanley Black & Decker by 29.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,621,127 shares of the industrial products company's stock valued at $201,497,000 after purchasing an additional 601,667 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Stanley Black & Decker in the first quarter valued at $31,811,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SWK shares. Jefferies Financial Group set a $86.00 target price on Stanley Black & Decker and gave the company a "buy" rating in a report on Monday, August 18th. Robert W. Baird increased their price target on shares of Stanley Black & Decker from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wolfe Research upgraded shares of Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of Stanley Black & Decker from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $80.00 target price on shares of Stanley Black & Decker in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.40.

Stanley Black & Decker Stock Performance

NYSE SWK traded down $2.73 during trading hours on Friday, hitting $76.64. The company had a trading volume of 5,995,056 shares, compared to its average volume of 2,113,721. The business has a fifty day simple moving average of $73.46 and a 200-day simple moving average of $70.17. Stanley Black & Decker, Inc. has a fifty-two week low of $53.91 and a fifty-two week high of $110.88. The firm has a market cap of $11.86 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The company has a quick ratio of 0.34, a current ratio of 1.04 and a debt-to-equity ratio of 0.52.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.38 by $0.70. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%.The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Stanley Black & Decker has set its FY 2025 guidance at 4.550-4.750 EPS. Equities analysts predict that Stanley Black & Decker, Inc. will post 5.16 EPS for the current year.

Stanley Black & Decker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Stanley Black & Decker's previous quarterly dividend of $0.82. Stanley Black & Decker's dividend payout ratio is presently 105.40%.

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.