The Vanguard Group, Inc. recently announced the acquisition of new stake in Stanley Black & Decker Inc. (NYSE:SWK). The institutional investor has increased its shareholding in the Industrials company by 3.27% to 17.26 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 11.28% valued currently at $1.48 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 2.48 million to 15.42 million shares. And SSgA Funds Management, Inc. has lifted its position by 29.66% or 2.5 million shares – to 10.91 million shares.
With over 2.05 million Stanley Black & Decker Inc. (SWK) shares trading Monday and a closing price of $80.27 on the day, the dollar volume was approximately $164.61 million. The shares have shown a negative half year performance of -10.31% and its price on 03/13/23 lost nearly -0.56%. Currently, there are 147.53M common shares owned by the public and among those 147.16M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for SWK have a consensus price objective of $94.43. The analysts have set the share’s price value over the next 12 months at a high of $110.00 and a low of $80.00. The average price target is 16.17% above its recent price level and a downside to the estimated low will see the stock lose -0.34% over that period. But an upside of 27.03% will see the stock hit the forecast high price target while median target price for the stock is $94.00.
Insiders at the company have transacted a total of 132 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 82 of these insider trades were purchases, accounting for 221,940 shares. Insider sales of the common stock occurred on 50 occasions, with total insider shares sold totaling 39,453 shares.
The top 3 mutual fund holders in Stanley Black & Decker Inc. are Vanguard Total Stock Market Index, SPDR S&P Dividend ETF, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 4.68 million shares of the company’s stock, all valued at over $400.42 million. The company bought an additional 30598.0 shares recently to bring their total holdings to about 3.06% of the shares outstanding. SPDR S&P Dividend ETF sold 1099.0 shares to see its total holdings shrink to 4.06 million shares valued at over $347.78 million and representing 2.66% of the shares outstanding. Vanguard Mid Cap Index Fund bought 5719.0 shares to bring its total holdings to over 3.56 million shares at a value of $305.18 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Stanley Black & Decker Inc. (NYSE: SWK) opened at $79.95, down -$0.77 from a prior closing price of $80.72. However, the script later moved the day high at 81.93, down -0.56%. The company’s stock has a 5-day price change of -5.64% and 2.56% over the past three months. SWK shares are trading 6.86% year to date (YTD), with the 12-month market performance down to -46.34% lower. It has a 12-month low price of $70.24 and touched a high of $151.82 over the same period. SWK has an average intraday trading volume of 1.85 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.60%, -6.05%, and -10.92% respectively.
Institutional ownership of Stanley Black & Decker Inc. (NYSE: SWK) shares accounts for 91.80% of the company’s 147.53M shares outstanding. Mutual fund holders own 36.89%, while other institutional holders and individual stakeholders account for 55.52% and 1.92% respectively.
It has a market capitalization of $12.55B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 82.50, while the earnings-per-share (ttm) stands at $0.97. The company has a PEG of 3.43 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.15% over the week and 3.18% over the month.
Analysts forecast that Stanley Black & Decker Inc. (SWK) will achieve an EPS of -$0.75 for the current quarter, -$0.02 for the next quarter and $5.19 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.91 while analysts give the company a high EPS estimate of -$0.69. Comparatively, EPS for the current quarter was $2.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -88.70%, and 421.50% over the next financial year. EPS should grow at an annualized rate of 24.06% over the next five years, compared to -33.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Stanley Black & Decker Inc. (SWK) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 17 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SWK, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on February 03, 2023, with the firm’s price target at $69-$106. Robert W. Baird was of a view on October 28, 2022 that the stock is Neutral, while Credit Suisse gave the stock Neutral rating on October 14, 2022, issuing a price target of $125- $79. Morgan Stanley on their part issued Equal-Weight rating on October 12, 2022.
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