Stanley Black & Decker, Inc. $SWK Stock: Sumitomo Mitsui Trust Group Inc. Decreases Holdings

Key Points

• Sumitomo Mitsui Trust Group reduced its Stanley Black & Decker stake by 16.3% in the third quarter, selling 11,320 shares and retaining 58,060 shares valued at about $5.1 million.
• Stanley Black & Decker reported quarterly EPS of $2.31, beating the $1.55 consensus, and raised its outlook; revenue of $3.73 billion was slightly below estimates, and tariff refunds contributed to the earnings beat.
• The company declared a quarterly dividend of $0.84 per share, equal to a 2.9% annualized yield, and announced a $1 billion share buyback. Analyst opinion remains mixed, with an average rating of Hold.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) by 16.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,060 shares of the industrial products company's stock after selling 11,320 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Stanley Black & Decker were worth $5,144,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Stanley Black & Decker in the second quarter valued at approximately $1,006,417,000. State Street Corp lifted its position in shares of Stanley Black & Decker by 5.0% during the 2nd quarter. State Street Corp now owns 8,751,801 shares of the industrial products company's stock valued at $823,720,000 after buying an additional 416,614 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Stanley Black & Decker by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,976,851 shares of the industrial products company's stock valued at $353,618,000 after acquiring an additional 92,573 shares during the period. Nykredit A S acquired a new stake in Stanley Black & Decker in the 2nd quarter valued at $166,378,000. Finally, Confluence Investment Management LLC purchased a new stake in Stanley Black & Decker in the 2nd quarter worth $126,909,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Stanley Black & Decker Price Performance

Shares of NYSE SWK traded down $0.20 during mid-day trading on Friday, reaching $115.06. The company's stock had a trading volume of 1,894,565 shares, compared to its average volume of 1,473,636. The stock has a 50-day moving average of $94.71 and a two-hundred day moving average of $86.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.43. The stock has a market capitalization of $17.38 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.58 and a beta of 1.15. Stanley Black & Decker, Inc. has a 1-year low of $61.90 and a 1-year high of $122.68.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.76. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.74 billion. Stanley Black & Decker had a net margin of 4.07% and a return on equity of 8.78%. On average, equities research analysts anticipate that Stanley Black & Decker, Inc. will post 5.66 EPS for the current fiscal year.

Stanley Black & Decker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. Stanley Black & Decker's payout ratio is presently 60.11%.

Trending Headlines about Stanley Black & Decker

Here are the key news stories impacting Stanley Black & Decker this week:

• Positive Sentiment: SWK reported Q3 earnings per share of $2.31, well above the $1.55 analyst consensus, and raised its outlook. The results helped send shares climbing 11.4% after the announcement. Stanley Black & Decker lifts outlook, but tariff refunds boosted Q3
• Positive Sentiment: The company announced a $1 billion share buyback, which could support demand for its stock. Equity buyback announcement
• Positive Sentiment: Citigroup raised its price target to $140 and maintained a Buy rating, implying further potential upside. Citigroup rating information
• Neutral Sentiment: Analyst views are mixed: Wells Fargo raised its target to $115 but kept an Equal Weight rating, while Baird lifted its target to $115. Wells Fargo rating information Baird price target update
• Negative Sentiment: Tariff refunds contributed to the Q3 earnings beat, raising questions about how much of the improvement can continue. Revenue of $3.73 billion was also slightly below the $3.74 billion consensus. Q3 earnings beat driven by tariff refunds

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SWK shares. Robert W. Baird upped their price objective on shares of Stanley Black & Decker from $84.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of Stanley Black & Decker in a research note on Thursday, October 29th. Wells Fargo & Company upped their price target on shares of Stanley Black & Decker from $90.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Stanley Black & Decker from $93.00 to $97.00 and gave the company a "hold" rating in a research note on Wednesday, September 30th. Finally, Wall Street Zen cut Stanley Black & Decker from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 24th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Stanley Black & Decker currently has an average rating of "Hold" and an average price target of $100.09.

Stanley Black & Decker Company 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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