ING Groep NV Trims Stock Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• ING Groep NV significantly reduced its stake in Stanley Black & Decker by 94.6%, now holding only 3,485 shares after selling 61,105 shares in the first quarter.
• Analysts have mixed ratings for Stanley Black & Decker, with one sell rating, six hold ratings, and five buy ratings, resulting in an average target price of $91.10.
• Stanley Black & Decker announced an increase in its quarterly dividend to $0.83 per share, reflecting a dividend yield of 4.8% and a payout ratio of 104.13%.

ING Groep NV cut its stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 94.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,485 shares of the industrial products company's stock after selling 61,105 shares during the period. ING Groep NV's holdings in Stanley Black & Decker were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of Stanley Black & Decker by 1,138.5% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Hanson & Doremus Investment Management acquired a new stake in shares of Stanley Black & Decker during the first quarter valued at about $31,000. TD Private Client Wealth LLC increased its position in shares of Stanley Black & Decker by 830.4% during the first quarter. TD Private Client Wealth LLC now owns 428 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 382 shares during the last quarter. CX Institutional acquired a new stake in shares of Stanley Black & Decker during the first quarter valued at about $43,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Stanley Black & Decker during the fourth quarter valued at about $65,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SWK shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $80.00 price target on shares of Stanley Black & Decker in a research report on Wednesday, July 30th. Robert W. Baird lifted their price objective 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. Barclays dropped 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 report on Wednesday, July 30th. Wolfe Research upgraded shares of Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted 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 report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Stanley Black & Decker currently has an average rating of "Hold" and an average target price of $91.10.

Stanley Black & Decker Stock Up 0.8%

Stanley Black & Decker stock traded up $0.56 during trading on Friday, reaching $69.30. The stock had a trading volume of 946,492 shares, compared to its average volume of 2,162,732. Stanley Black & Decker, Inc. has a 52-week low of $53.91 and a 52-week high of $110.88. The business has a 50 day moving average price of $68.74 and a 200 day moving average price of $72.52. The company has a quick ratio of 0.34, a current ratio of 1.04 and a debt-to-equity ratio of 0.52. The stock has a market cap of $10.73 billion, a PE ratio of 22.00, a P/E/G ratio of 1.52 and a beta of 1.16.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.70. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.01 billion. Stanley Black & Decker had a net margin of 3.15% and a return on equity of 7.76%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, analysts predict that Stanley Black & Decker, Inc. will post 5.16 EPS for the current year.

Stanley Black & Decker Increases Dividend

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