Old North State Wealth Management LLC Takes Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Old North State Wealth Management LLC purchased a new position in Stanley Black & Decker, Inc. (NYSE:SWK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,798 shares of the industrial products company’s stock, valued at approximately $2,883,000. Stanley Black & Decker makes up approximately 1.6% of Old North State Wealth Management LLC’s portfolio, making the stock its 20th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in SWK. Harbor Capital Advisors Inc. acquired a new stake in shares of Stanley Black & Decker in the 4th quarter worth about $1,386,000. Avanza Fonder AB bought a new position in shares of Stanley Black & Decker in the fourth quarter valued at approximately $1,287,000. State Street Corp boosted its position in shares of Stanley Black & Decker by 6.5% during the third quarter. State Street Corp now owns 9,062,992 shares of the industrial products company’s stock valued at $998,107,000 after buying an additional 549,531 shares during the last quarter. FMR LLC grew its holdings in Stanley Black & Decker by 40.8% during the third quarter. FMR LLC now owns 923,118 shares of the industrial products company’s stock worth $101,663,000 after buying an additional 267,723 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Stanley Black & Decker by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,579,852 shares of the industrial products company’s stock valued at $392,882,000 after acquiring an additional 35,100 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SWK. StockNews.com lowered shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their target price on Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Stanley Black & Decker from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird decreased their target price on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays cut their price target on shares of Stanley Black & Decker from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.25.

Stanley Black & Decker Stock Performance

Shares of SWK stock opened at $86.83 on Wednesday. The firm has a market capitalization of $13.39 billion, a PE ratio of -63.38, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a 50 day moving average price of $84.18 and a 200-day moving average price of $93.58. Stanley Black & Decker, Inc. has a 52 week low of $77.70 and a 52 week high of $110.88. The company has a quick ratio of 0.42, a current ratio of 1.29 and a debt-to-equity ratio of 0.63.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Storage segment, and Industrial segment.