Swiss National Bank Reduces Stake in Stanley Black & Decker by 32.2%

The Swiss National Bank has reduced its holdings in Stanley Black & Decker, Inc. (NYSE: SWK) by 32.2% during the second quarter of 2023, as detailed in its latest filing with the U.S. Securities and Exchange Commission. Following the sale of 140,200 shares, the bank now owns 294,735 shares of the industrial products company, representing approximately 0.19% of the total equity, valued at around $19.97 million.

Changes in Institutional Investments

Several other institutional investors have also adjusted their positions in Stanley Black & Decker recently. In the second quarter, Princeton Global Asset Management LLC acquired a new stake worth $25,000. Similarly, 1248 Management LLC purchased a new position in the first quarter, valued at approximately $26,000. Garde Capital Inc. significantly increased its stake by 160.5% during the second quarter, now holding 521 shares worth $35,000 after acquiring an additional 321 shares. SBI Securities Co. Ltd. grew its position by 87.5%, owning 583 shares valued at $39,000 after an additional purchase of 272 shares. Parkside Financial Bank & Trust also expanded its stake by 63.6%, bringing its total to 594 shares valued at $40,000. Overall, hedge funds and institutional investors currently control 87.77% of Stanley Black & Decker’s stock.

Analysts Weigh In on SWK

Stanley Black & Decker has been the focus of various recent analyst reports. Following a review, Wells Fargo & Company reduced its target price from $80.00 to $75.00 while assigning an “equal weight” rating. Conversely, UBS Group increased its price target from $100.00 to $105.00, offering a “buy” rating. The Goldman Sachs Group maintained a “neutral” rating with a target price of $80.00, while Wall Street Zen downgraded the stock from a “buy” to a “hold” rating. Jefferies Financial Group set a price target of $86.00 and assigned a “buy” rating. Presently, six analysts have rated the stock as a buy, five as hold, and one as sell, leading to an average rating of “hold” and a target price of $88.10, according to MarketBeat.com.

Stock Performance

As of Wednesday, shares of Stanley Black & Decker opened at $70.73. The stock has shown a 5.3% increase, with a 50-day simple moving average of $69.96 and a 200-day average of $70.43. The company boasts a market capitalization of $10.95 billion, a price-to-earnings (P/E) ratio of 22.45, and a P/E/G ratio of 1.46. Over the past year, the stock has fluctuated between a low of $53.91 and a high of $91.36. Financial ratios indicate a current ratio of 1.04, a quick ratio of 0.34, and a debt-to-equity ratio of 0.52.

Earnings and Dividend Announcements

Stanley Black & Decker released its quarterly earnings data on June 30, reporting earnings per share (EPS) of $2.85. The company achieved a return on equity of 7.76% and a net margin of 3.15%, with revenue reaching $3.72 billion for the quarter. Analysts project that the company will post an EPS of $5.16 for the current fiscal year.

In addition to its financial results, Stanley Black & Decker has announced a quarterly dividend of $0.83, scheduled for payment on December 16 to stockholders of record on December 1. The ex-dividend date is also set for December 1. This dividend translates to an annualized payout of $3.32 and a yield of 4.7%. Notably, the company’s dividend payout ratio stands at 114.88%.

About Stanley Black & Decker

Stanley Black & Decker, Inc. specializes in providing power and hand tools, accessories, and services across various sectors, including oil and gas, infrastructure, commercial electronic security, healthcare solutions, and mechanical access. The company operates through two main segments: Tools and Outdoor, and Industrial.