Resona Asset Management Co. Ltd. Acquires 10,159 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Stanley Black & Decker by 16.8%, acquiring an additional 10,159 shares and bringing its total holdings to 70,594 shares valued at $5.4 million.
• Stanley Black & Decker plans to pay a quarterly dividend of $0.83 per share, up from the previous $0.82, equating to a 4.5% annual yield.
• Despite a beat on earnings estimates with $1.08 EPS, the company reported a decline in year-over-year revenue of 6.2%, indicating challenges in performance relative to previous periods.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,594 shares of the industrial products company's stock after purchasing an additional 10,159 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Stanley Black & Decker were worth $5,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC raised its stake in Stanley Black & Decker by 1,138.5% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $25,000 after buying an additional 296 shares during the period. Hanson & Doremus Investment Management acquired a new position in Stanley Black & Decker during the 1st quarter worth approximately $31,000. TD Private Client Wealth LLC raised its stake in Stanley Black & Decker by 830.4% during the 1st quarter. TD Private Client Wealth LLC now owns 428 shares of the industrial products company's stock worth $33,000 after buying an additional 382 shares during the period. CX Institutional acquired a new position in Stanley Black & Decker during the 1st quarter worth approximately $43,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Stanley Black & Decker during the 4th quarter worth approximately $65,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

SWK has been the topic of a number of research reports. Wolfe Research raised Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lowered their price objective on 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $80.00 price objective on shares of Stanley Black & Decker in a research note on Wednesday, July 30th. Barclays lowered their price objective on 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, Wall Street Zen downgraded Stanley Black & Decker from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Stanley Black & Decker presently has a consensus rating of "Hold" and an average target price of $91.10.

Stanley Black & Decker Stock Performance

Shares of SWK opened at $74.07 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.64 and a beta of 1.16. The stock has a 50 day moving average of $69.52 and a 200 day moving average of $71.99. Stanley Black & Decker, Inc. has a 12 month low of $53.91 and a 12 month high of $110.88.

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, beating 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 return on equity of 7.76% and a net margin of 3.15%. Stanley Black & Decker's revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.5%. This is a positive change from Stanley Black & Decker's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 2nd. Stanley Black & Decker's dividend payout ratio is currently 104.13%.

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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