Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Stanley Black & Decker, Inc. (NYSE:SWK) by 20.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,870 shares of the industrial products company’s stock after selling 9,038 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stanley Black & Decker were worth $5,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SWK. JPMorgan Chase & Co. lifted its holdings in Stanley Black & Decker by 20.7% in the 1st quarter. JPMorgan Chase & Co. now owns 8,811,311 shares of the industrial products company’s stock valued at $881,132,000 after purchasing an additional 1,514,032 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Stanley Black & Decker in the 1st quarter valued at $64,592,000. The Manufacturers Life Insurance Company lifted its holdings in Stanley Black & Decker by 396.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 644,000 shares of the industrial products company’s stock valued at $64,401,000 after purchasing an additional 514,188 shares in the last quarter. First Trust Advisors LP lifted its holdings in Stanley Black & Decker by 5,084.5% in the 1st quarter. First Trust Advisors LP now owns 508,702 shares of the industrial products company’s stock valued at $50,870,000 after purchasing an additional 498,890 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Stanley Black & Decker by 19.6% in the 1st quarter. Pzena Investment Management LLC now owns 2,712,644 shares of the industrial products company’s stock worth $271,264,000 after acquiring an additional 444,064 shares during the last quarter. Institutional investors own 87.10% of the company’s stock.

SWK has been the subject of a number of recent research reports. Nomura Securities raised their target price on Stanley Black & Decker from $116.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Zacks Investment Research raised Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $149.00 target price for the company in a research note on Tuesday, July 14th. Barclays raised their target price on Stanley Black & Decker from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 16th. Bank of America raised their target price on Stanley Black & Decker from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Finally, Nomura cut their price objective on Stanley Black & Decker from $145.00 to $131.00 in a research report on Monday, May 4th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Stanley Black & Decker has an average rating of “Buy” and an average price target of $158.06.

Shares of Stanley Black & Decker stock opened at $153.32 on Friday. The business has a 50-day moving average of $141.95 and a 200 day moving average of $133.11. Stanley Black & Decker, Inc. has a 12 month low of $70.00 and a 12 month high of $173.67. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 4.61 and a beta of 1.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.06 and a quick ratio of 0.59.

Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Thursday, July 30th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $1.01. Stanley Black & Decker had a return on equity of 16.40% and a net margin of 6.46%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business posted $2.66 EPS. Stanley Black & Decker’s revenue for the quarter was down 17.6% on a year-over-year basis. Equities research analysts anticipate that Stanley Black & Decker, Inc. will post 6.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.83%. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, August 31st. Stanley Black & Decker’s dividend payout ratio (DPR) is 32.86%.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.

See Also: What is a Market Correction?

Want to see what other hedge funds are holding SWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stanley Black & Decker, Inc. (NYSE:SWK).

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

Receive News & Ratings for Stanley Black & Decker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stanley Black & Decker and related companies with MarketBeat.com's FREE daily email newsletter.