Lord Abbett & CO. LLC Cuts Stock Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Lord Abbett & CO. LLC decreased its position in shares of Stanley Black & Decker, Inc. (NYSE:SWK) by 41.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,697 shares of the industrial products company’s stock after selling 244,871 shares during the period. Lord Abbett & CO. LLC’s holdings in Stanley Black & Decker were worth $37,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC increased its position in shares of Stanley Black & Decker by 99.3% in the 3rd quarter. Rise Advisors LLC now owns 267 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 133 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Stanley Black & Decker by 81.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 528 shares of the industrial products company’s stock worth $42,000 after buying an additional 237 shares during the period. Summit Securities Group LLC purchased a new position in Stanley Black & Decker during the 2nd quarter worth approximately $56,000. Waldron Private Wealth LLC acquired a new stake in Stanley Black & Decker during the 3rd quarter valued at approximately $59,000. Finally, AM Squared Ltd purchased a new stake in shares of Stanley Black & Decker in the 2nd quarter valued at $72,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Stanley Black & Decker Price Performance

Shares of SWK opened at $82.80 on Friday. Stanley Black & Decker, Inc. has a 12 month low of $77.70 and a 12 month high of $110.88. The stock’s 50 day moving average is $94.04 and its two-hundred day moving average is $93.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.29 and a quick ratio of 0.42.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. As a group, sell-side analysts expect that Stanley Black & Decker, Inc. will post 4.12 EPS for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio is presently -239.42%.

Analysts Set New Price Targets

Several research analysts recently issued reports on SWK shares. Robert W. Baird reduced their target price on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Barclays boosted their price objective on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their target price on Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Stanley Black & Decker currently has an average rating of “Hold” and an average price target of $102.29.

Stanley Black & Decker 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.