Renaissance Technologies LLC Decreases Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Renaissance Technologies LLC cut its position in Stanley Black & Decker, Inc. (NYSE:SWK) by 15.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 397,962 shares of the industrial products company’s stock after selling 73,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Stanley Black & Decker were worth $31,793,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Stanley Black & Decker by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,410,842 shares of the industrial products company’s stock worth $1,802,975,000 after buying an additional 1,250,925 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Stanley Black & Decker by 8.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,733,749 shares of the industrial products company’s stock worth $218,399,000 after acquiring an additional 212,103 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Stanley Black & Decker by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,682,585 shares of the industrial products company’s stock worth $134,444,000 after acquiring an additional 267,013 shares during the period. Cooke & Bieler LP grew its stake in shares of Stanley Black & Decker by 4.8% in the second quarter. Cooke & Bieler LP now owns 1,525,438 shares of the industrial products company’s stock worth $121,867,000 after acquiring an additional 69,850 shares during the period. Finally, Norges Bank bought a new stake in shares of Stanley Black & Decker in the fourth quarter worth approximately $133,952,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stanley Black & Decker news, SVP Janet Link sold 13,520 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $103.91, for a total value of $1,404,863.20. Following the completion of the transaction, the senior vice president now directly owns 31,960 shares in the company, valued at approximately $3,320,963.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Stanley Black & Decker Stock Performance

Shares of NYSE SWK opened at $108.01 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.42. Stanley Black & Decker, Inc. has a 1 year low of $76.26 and a 1 year high of $108.37. The firm has a fifty day moving average price of $96.82 and a 200-day moving average price of $91.21. The stock has a market cap of $16.63 billion, a PE ratio of -156.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.25. The business had revenue of $4.02 billion for 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%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. Equities analysts anticipate that Stanley Black & Decker, Inc. will post 4.22 earnings per share for the current fiscal year.

Stanley Black & Decker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.04%. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Tuesday, September 3rd. Stanley Black & Decker’s dividend payout ratio is presently -475.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Stanley Black & Decker from $82.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley assumed coverage on shares of Stanley Black & Decker in a research note on Friday, September 6th. They issued an “equal weight” rating and a $107.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Stanley Black & Decker from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.75.

Stanley Black & Decker Company Profile

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.