Commerce Bank Trims Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• Commerce Bank has reduced its holdings in Stanley Black & Decker by 5.9% during the first quarter, now owning 67,774 shares worth approximately $5.21 million.
• The company has announced an increase in its quarterly dividend to $0.83, up from $0.82, with a 5.0% annualized yield.
• Stanley Black & Decker's latest earnings per share (EPS) was $1.08, exceeding the analysts' estimates, despite a revenue decline of 6.2% year-over-year.

Commerce Bank lessened its holdings in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 67,774 shares of the industrial products company's stock after selling 4,269 shares during the period. Commerce Bank's holdings in Stanley Black & Decker were worth $5,210,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC raised its holdings in shares of Stanley Black & Decker by 1,138.5% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 296 shares during the period. Hanson & Doremus Investment Management acquired a new position in Stanley Black & Decker in the 1st quarter valued at about $31,000. TD Private Client Wealth LLC grew its stake in Stanley Black & Decker by 830.4% in the 1st quarter. TD Private Client Wealth LLC now owns 428 shares of the industrial products company's stock valued at $33,000 after buying an additional 382 shares during the last quarter. CX Institutional acquired a new position in Stanley Black & Decker in the 1st quarter valued at about $43,000. Finally, WASHINGTON TRUST Co grew its stake in Stanley Black & Decker by 530.1% in the 1st quarter. WASHINGTON TRUST Co now owns 838 shares of the industrial products company's stock valued at $64,000 after buying an additional 705 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Stanley Black & Decker Trading Up 1.5%

Stanley Black & Decker stock traded up $1.01 during trading hours on Monday, reaching $67.99. The stock had a trading volume of 1,642,958 shares, compared to its average volume of 2,462,045. The stock has a market cap of $10.52 billion, a PE ratio of 21.58, a PEG ratio of 1.47 and a beta of 1.16. Stanley Black & Decker, Inc. has a 52 week low of $53.91 and a 52 week high of $110.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.34. The company has a fifty day simple moving average of $68.48 and a 200-day simple moving average of $72.92.

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 firm had revenue of $3.95 billion for 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 revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. Analysts forecast that Stanley Black & Decker, Inc. will post 5.16 EPS for the current fiscal year.

Stanley Black & Decker Increases Dividend

The company 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 dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.9%. This is an increase 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 payout ratio is 104.13%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SWK. Robert W. Baird increased their target price on shares of Stanley Black & Decker from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Barclays decreased their target price on shares of Stanley Black & Decker from $90.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. UBS Group cut their price target on shares of Stanley Black & Decker from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of Stanley Black & Decker from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $80.00 price target on shares of Stanley Black & Decker in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Stanley Black & Decker presently has an average rating of "Hold" and an average target price of $91.10.

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.