Citigroup Inc. Sells 22,991 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)

Citigroup Inc. trimmed its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 10.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 192,443 shares of the industrial products company’s stock after selling 22,991 shares during the quarter. Citigroup Inc.’s holdings in Stanley Black & Decker were worth $21,194,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC increased its stake in Stanley Black & Decker by 252.2% during the 1st quarter. Tidal Investments LLC now owns 13,019 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 9,323 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in Stanley Black & Decker in the 1st quarter worth approximately $274,000. Wahed Invest LLC lifted its position in Stanley Black & Decker by 14.7% in the 1st quarter. Wahed Invest LLC now owns 2,993 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 383 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in Stanley Black & Decker by 3.1% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 59,218 shares of the industrial products company’s stock valued at $5,799,000 after purchasing an additional 1,780 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Stanley Black & Decker in the 1st quarter worth $8,772,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Stanley Black & Decker Stock Down 3.2 %

SWK opened at $89.54 on Wednesday. The firm’s 50 day simple moving average is $99.66 and its two-hundred day simple moving average is $93.87. The company has a market capitalization of $13.80 billion, a PE ratio of -65.36, a PEG ratio of 2.41 and a beta of 1.25. Stanley Black & Decker, Inc. has a 1-year low of $77.70 and a 1-year high of $110.88. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63.

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

Stanley Black & Decker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio is -239.42%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com cut Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. UBS Group raised their price target on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Barclays increased their price objective on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company cut their target price on shares of Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Stanley Black & Decker has an average rating of “Hold” and a consensus target price of $102.29.

About Stanley Black & Decker

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.