Focus Partners Advisor Solutions LLC has significantly reduced its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by **42.4%** during the second quarter of 2023. According to HoldingsChannel.com, the firm now holds **5,113 shares** of the industrial products company after divesting **3,771 shares** in that period. At the conclusion of the quarter, this position was valued at approximately **$346,000**.
Several other institutional investors have similarly adjusted their holdings in Stanley Black & Decker. Notably, Golden State Wealth Management LLC increased its stake by a striking **1,138.5%** during the first quarter, acquiring a total of **322 shares** valued at **$25,000** after purchasing an additional **296 shares**. Meanwhile, Princeton Global Asset Management LLC made a new investment in the company in the second quarter, valued at about **$25,000**.
TD Private Client Wealth LLC also expanded its position by **830.4%** in the first quarter, now owning **428 shares** worth **$33,000** after increasing its holdings by **382 shares**. Additionally, Garde Capital Inc. has boosted its stake by **160.5%** in the second quarter, bringing its total to **521 shares** valued at **$35,000**.
Institutional investors and hedge funds collectively own **87.77%** of Stanley Black & Decker’s stock, highlighting a strong interest among large investors in the company.
Stanley Black & Decker’s Financial Performance
On the trading front, shares of Stanley Black & Decker opened at **$68.55** on the most recent trading day. The company’s stock has experienced a **50-day moving average** of **$73.44** and a **200-day moving average** of **$69.41**. Over the past year, the stock has fluctuated, reaching a low of **$53.91** and a high of **$96.75**. Financial metrics depict a current ratio of **1.04**, a quick ratio of **0.34**, and a debt-to-equity ratio of **0.52**. The firm holds a market capitalization of **$10.61 billion**, a price-to-earnings (P/E) ratio of **21.76**, and a price/earnings-to-growth (PEG) ratio of **1.46**.
Analysts Adjust Price Targets
Recent research reports have prompted analysts to reassess their price targets for Stanley Black & Decker. On **October 6, 2023**, Wells Fargo & Company raised its target from **$75.00** to **$80.00**, maintaining an “equal weight” rating. Similarly, Goldman Sachs Group reiterated a “neutral” rating with a price target of **$80.00** in a report released on **July 30, 2023**.
Other firms have also adjusted their estimates. Robert W. Baird lifted its price target from **$65.00** to **$78.00**, while Jefferies Financial Group set a more ambitious target of **$86.00** and rated the stock as a “buy.” Morgan Stanley reaffirmed a “positive” rating with a target of **$80.00** on **October 14, 2023**.
As of now, the average rating among analysts stands at “Hold,” with an average price target of **$88.10**, according to MarketBeat.com. This diverse range of opinions reflects the mixed sentiments surrounding Stanley Black & Decker, with six analysts recommending a buy, five suggesting a hold, and one advising a sell.
In summary, Focus Partners Advisor Solutions LLC’s significant reduction in its holdings of Stanley Black & Decker coincides with a period of active investment adjustments by various hedge funds and institutional investors. As the company navigates its financial landscape, the reactions of analysts further illustrate the complexities of the market surrounding this prominent player in the industrial sector.
