Fintel reports that on August 2, 2023, Morgan Stanley maintained coverage of Stanley Black & Decker (NYSE:SWK) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 5.21% Downside
As of August 2, 2023, the average one-year price target for Stanley Black & Decker is 95.97. The forecasts range from a low of 85.85 to a high of $115.50. The average price target represents a decrease of 5.21% from its latest reported closing price of 101.25.
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The projected annual revenue for Stanley Black & Decker is 16,313MM, an increase of 0.72%. The projected annual non-GAAP EPS is 4.68.
What is the Fund Sentiment?
There are 1413 funds or institutions reporting positions in Stanley Black & Decker. This is a decrease of 17 owner(s) or 1.19% in the last quarter. Average portfolio weight of all funds dedicated to SWK is 0.22%, an increase of 23.42%. Total shares owned by institutions increased in the last three months by 0.69% to 163,047K shares. 
The put/call ratio of SWK is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 15,728K shares representing 10.27% ownership of the company. In it's prior filing, the firm reported owning 12,938K shares, representing an increase of 17.74%. The firm increased its portfolio allocation in SWK by 21.34% over the last quarter.
Capital Research Global Investors holds 5,432K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 3,837K shares, representing an increase of 29.36%. The firm increased its portfolio allocation in SWK by 43.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,575K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 4,637K shares, representing a decrease of 1.34%. The firm decreased its portfolio allocation in SWK by 2.27% over the last quarter.
SDY - SPDR(R) S&P(R) Dividend ETF holds 4,025K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 4,100K shares, representing a decrease of 1.86%. The firm increased its portfolio allocation in SWK by 8.57% over the last quarter.
Wells Fargo holds 4,005K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 4,111K shares, representing a decrease of 2.64%. The firm increased its portfolio allocation in SWK by 0.28% over the last quarter.
Stanley Black & Decker Background Information
(This description is provided by the company.)
Stanley Black & Decker is a purpose-driven, $14.5 billion revenue industrial organization. Stanley Black & Decker has 53,000 employees in more than 60 countries and operates the world's largest tools and storage business, the world's second-largest commercial electronic security services company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include BLACK+DECKER, Bostitch, CRAFTSMAN, DEWALT, FACOM, IRWIN, LENOX, Porter Cable and STANLEY. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place.
Additional reading:
- Global Cost Reduction Program Delivered $230 Million of Pre-Tax Run-Rate Savings in Second Quarter 2023; On-Track for Expected $1 Billion Run-Rate Savings by End of 2023 Delivered Second Consecutive Quarter of Sequential Gross Margin Improvement Stro
- STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, Millions of Dollars Except Per Share Amounts) SECOND QUARTER YEAR-TO-DATE 2023 2022 2023 2022 NET SALES $ 4,158.9 $ 4,393.0 $ 8,090.7 $ 8,841.0
- Employment Offer Letter, dated May 2, 2023, between Stanley Black & Decker, Inc. and Christopher J. Nelson (filed herewith).*
- Global Cost Reduction Program Delivered $230 Million of Pre-Tax Run-Rate Savings in First Quarter 2023; On-Track for Expected $1 Billion Annualized Savings by End of 2023 Gross Margin Improved Versus Fourth Quarter 2022 Expected Trough Strong Progres
- STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, Millions of Dollars Except Per Share Amounts)
This story originally appeared on Fintel.
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