Wells Fargo & Company Raises Stanley Black & Decker (NYSE:SWK) Price Target to $110.00

Stanley Black & Decker (NYSE:SWK) had its target price upped by Wells Fargo & Company from $85.00 to $110.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the company. Barclays cut Stanley Black & Decker from an overweight rating to an equal weight rating and reduced their price objective for the stock from $100.00 to $86.00 in a report on Tuesday, June 4th. The Goldman Sachs Group boosted their price target on Stanley Black & Decker from $82.00 to $94.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird boosted their price target on Stanley Black & Decker from $78.00 to $80.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, UBS Group boosted their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a buy rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $99.13.

Stanley Black & Decker Stock Performance

Shares of SWK stock opened at $98.63 on Wednesday. The stock has a fifty day moving average price of $86.26 and a 200 day moving average price of $89.38. The stock has a market cap of $15.19 billion, a PE ratio of -142.94, a P/E/G ratio of 2.95 and a beta of 1.25. Stanley Black & Decker has a 1 year low of $76.26 and a 1 year high of $108.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.40 and a current ratio of 1.27.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.25. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. Stanley Black & Decker’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. Sell-side analysts forecast that Stanley Black & Decker will post 3.98 earnings per share for the current fiscal year.

Stanley Black & Decker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. Stanley Black & Decker’s payout ratio is currently -469.56%.

Insider Buying and Selling at Stanley Black & Decker

In other Stanley Black & Decker news, SVP Janet Link sold 3,442 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $86.80, for a total transaction of $298,765.60. Following the completion of the sale, the senior vice president now owns 32,860 shares of the company’s stock, valued at $2,852,248. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stanley Black & Decker

Institutional investors have recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in Stanley Black & Decker during the fourth quarter valued at about $25,000. Quarry LP purchased a new stake in shares of Stanley Black & Decker in the fourth quarter worth about $36,000. Principal Securities Inc. purchased a new stake in shares of Stanley Black & Decker in the fourth quarter worth about $38,000. AlphaMark Advisors LLC purchased a new stake in shares of Stanley Black & Decker in the second quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Stanley Black & Decker by 39.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 496 shares of the industrial products company’s stock worth $49,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Stanley Black & Decker

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.