Summit Financial LLC Purchases New Shares in Stanley Black & Decker, Inc. $SWK

Key Points

• Summit Financial LLC has acquired a new stake in Stanley Black & Decker, purchasing 28,750 shares valued at approximately $2.21 million.
• The company recently reported earnings of $1.08 per share, significantly surpassing analysts' estimates, despite experiencing a 6.2% year-over-year revenue decline.
• Stanley Black & Decker announced a dividend increase to $0.83 per share, with a current yield of 4.3%, and a payout ratio of 104.13%.

Summit Financial LLC acquired a new stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,750 shares of the industrial products company's stock, valued at approximately $2,210,000.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Stanley Black & Decker by 18.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,435 shares of the industrial products company's stock valued at $1,494,000 after acquiring an additional 3,009 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Stanley Black & Decker during the 1st quarter valued at approximately $245,000. GAMMA Investing LLC grew its stake in shares of Stanley Black & Decker by 40.5% during the 1st quarter. GAMMA Investing LLC now owns 4,521 shares of the industrial products company's stock valued at $348,000 after acquiring an additional 1,304 shares during the period. Private Advisor Group LLC grew its stake in shares of Stanley Black & Decker by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 14,441 shares of the industrial products company's stock valued at $1,110,000 after acquiring an additional 292 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Stanley Black & Decker by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,200 shares of the industrial products company's stock valued at $2,079,000 after acquiring an additional 4,128 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SWK shares. Wells Fargo & Company boosted their price objective on Stanley Black & Decker from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $80.00 price target on shares of Stanley Black & Decker in a report on Wednesday, July 30th. Wall Street Zen cut Stanley Black & Decker from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Barclays lowered their price target on Stanley Black & Decker from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lowered their price target on Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.40.

Stanley Black & Decker Price Performance

Shares of SWK traded down $1.28 during mid-day trading on Tuesday, hitting $75.19. 2,674,349 shares of the stock were exchanged, compared to its average volume of 2,406,111. The company has a market cap of $11.64 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.71 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 firm has a 50-day moving average of $70.51 and a two-hundred day moving average of $71.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 1.04.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.70. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%.The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. Stanley Black & Decker has set its FY 2025 guidance at 4.550-4.750 EPS. On average, equities analysts predict 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. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. 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. This represents a $3.32 annualized dividend and a dividend yield of 4.4%. Stanley Black & Decker's payout ratio is currently 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.