TD Asset Management Inc. Cuts Stake in Stanley Black & Decker, Inc. (SWK)

TD Asset Management Inc. lessened its position in shares of Stanley Black & Decker, Inc. (NYSE:SWK) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 221,277 shares of the industrial products company’s stock after selling 778 shares during the quarter. TD Asset Management Inc.’s holdings in Stanley Black & Decker were worth $32,404,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its stake in Stanley Black & Decker by 47.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 6,990 shares of the industrial products company’s stock valued at $928,000 after purchasing an additional 2,245 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Stanley Black & Decker by 1.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 42,411 shares of the industrial products company’s stock valued at $5,633,000 after purchasing an additional 779 shares during the last quarter. Bank of Montreal Can raised its stake in Stanley Black & Decker by 43.3% in the 2nd quarter. Bank of Montreal Can now owns 182,740 shares of the industrial products company’s stock valued at $24,270,000 after purchasing an additional 55,186 shares during the last quarter. Welch & Forbes LLC raised its stake in Stanley Black & Decker by 14.2% in the 2nd quarter. Welch & Forbes LLC now owns 189,999 shares of the industrial products company’s stock valued at $25,234,000 after purchasing an additional 23,625 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Stanley Black & Decker by 2,410.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 62,500 shares of the industrial products company’s stock valued at $8,301,000 after purchasing an additional 60,010 shares during the last quarter. 84.86% of the stock is owned by institutional investors and hedge funds.

SWK opened at $125.74 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.92 and a quick ratio of 0.48. The stock has a market capitalization of $19.44 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. Stanley Black & Decker, Inc. has a 12 month low of $106.41 and a 12 month high of $176.62.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.04 by $0.04. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Stanley Black & Decker had a return on equity of 16.71% and a net margin of 7.22%. As a group, sell-side analysts forecast that Stanley Black & Decker, Inc. will post 8.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Friday, November 30th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 29th. Stanley Black & Decker’s dividend payout ratio (DPR) is 35.44%.

Several research analysts recently weighed in on the stock. Wells Fargo & Co cut their target price on shares of Stanley Black & Decker from $194.00 to $168.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Macquarie set a $140.00 target price on shares of Stanley Black & Decker and gave the company a “buy” rating in a research note on Tuesday, October 30th. Robert W. Baird reissued a “neutral” rating on shares of Stanley Black & Decker in a research note on Friday, July 20th. Credit Suisse Group set a $135.00 target price on shares of Stanley Black & Decker and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of Stanley Black & Decker from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $163.29.

In other Stanley Black & Decker news, Director Michael David Hankin purchased 907 shares of the stock in a transaction on Monday, October 29th. The stock was bought at an average price of $112.93 per share, for a total transaction of $102,427.51. Following the acquisition, the director now directly owns 2,157 shares of the company’s stock, valued at $243,590.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jaime A. Ramirez sold 8,251 shares of Stanley Black & Decker stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $111.29, for a total value of $918,253.79. Following the completion of the sale, the senior vice president now owns 36,566 shares of the company’s stock, valued at approximately $4,069,430.14. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

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Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc provides tools and storage, engineered fastening and infrastructure, and security solutions worldwide. The company's Tools & Storage segment offers professional products, including corded and cordless electric power tools and equipment, drills, impact wrenches and drivers, grinders, saws, routers, and sanders, as well as pneumatic tools and fasteners, including nail guns, nails, staplers and staples, and concrete and masonry anchors; and consumer products, such as lawn and garden products comprising hedge and string trimmers, lawn mowers, and edgers and related accessories, as well as home products, such as hand-held vacuums, paint tools, and cleaning appliances.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Stanley Black & Decker (NYSE:SWK)

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