Stanley Black & Decker, Inc. $SWK Stock: ProShare Advisors LLC Reduces Holdings

Key Points

• ProShare Advisors cut its Stanley Black & Decker stake by 12.5% in the third quarter, selling 269,891 shares while retaining 1.88 million shares worth approximately $166.9 million. Institutional investors collectively own 87.77% of the company.
• Stanley Black & Decker reported quarterly EPS of $1.57, beating analyst estimates of $1.21, while revenue reached $3.96 billion, up 0.4% year over year and roughly in line with expectations.
• The company declared a quarterly dividend of $0.84, equivalent to an annualized $3.36 payout and a 3.2% yield. Wall Street’s consensus rating is Hold, with an average price target of $94.11 versus the reported share price of $103.42.

ProShare Advisors LLC trimmed its holdings in Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,884,304 shares of the industrial products company's stock after selling 269,891 shares during the quarter. ProShare Advisors LLC owned approximately 1.25% of Stanley Black & Decker worth $166,930,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Cidel Asset Management Inc. purchased a new position in Stanley Black & Decker in the third quarter valued at about $281,000. Americana Partners LLC raised its stake in shares of Stanley Black & Decker by 1.9% during the 3rd quarter. Americana Partners LLC now owns 120,150 shares of the industrial products company's stock worth $10,644,000 after purchasing an additional 2,188 shares in the last quarter. State of Wyoming increased its position in Stanley Black & Decker by 110.5% in the 3rd quarter. State of Wyoming now owns 5,788 shares of the industrial products company's stock worth $513,000 after buying an additional 3,039 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Stanley Black & Decker by 43.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 67,350 shares of the industrial products company's stock valued at $5,967,000 after purchasing an additional 20,300 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of Stanley Black & Decker in the 3rd quarter worth $280,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Stanley Black & Decker Stock Down 0.2%

SWK opened at $103.42 on Friday. The business has a 50-day moving average of $93.44 and a two-hundred day moving average of $85.60. The stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.43 and a quick ratio of 0.55. Stanley Black & Decker, Inc. has a 12 month low of $61.90 and a 12 month high of $105.17.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.36. Stanley Black & Decker had a return on equity of 8.78% and a net margin of 4.07%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business's revenue for the quarter was up .4% compared to the same quarter last year. On average, research analysts expect that Stanley Black & Decker, Inc. will post 5.59 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Tuesday, December 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 1st. Stanley Black & Decker's dividend payout ratio is currently 81.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SWK. Citigroup increased their price target on Stanley Black & Decker from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Morgan Stanley set a $100.00 target price on shares of Stanley Black & Decker in a research report on Tuesday, October 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Stanley Black & Decker in a report on Thursday. Wells Fargo & Company dropped their target price on Stanley Black & Decker from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Friday, October 16th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $93.00 price objective on shares of Stanley Black & Decker in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $94.11.

Stanley Black & Decker Profile

Stanley Black & Decker, Inc is a global manufacturer of tools, outdoor products and related equipment. The company serves professional contractors, industrial customers, do-it-yourself consumers and outdoor enthusiasts through a portfolio that includes power tools, hand tools, storage solutions, accessories, lawn and garden equipment, and other outdoor products.

Its brands include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, Cub Cadet, Hustler and Troy-Bilt. Products are sold through retailers, distributors, e-commerce channels and other commercial outlets, supporting construction, maintenance, manufacturing, automotive repair and residential applications.

The company was formed in 2010 through the merger of The Stanley Works and The Black & Decker Corporation.

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