Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Stanley Black & Decker Inc. shares valued at $221,282 were sold by Link Janet on Feb 28. At $85.73 per share, Link Janet sold 2,581 shares. The insider’s holdings dropped to 36,352 shares worth approximately $3.04 million following the completion of this transaction.
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Also, Walburger Corbin sold 5,248 shares, netting a total of over 424,044 in proceeds. Following the sale of shares at $80.80 each, the insider now holds 17,993 shares.
Before that, MANNING ROBERT J had added 30,000 shares to its account. In a trade valued at $2,565,000, the Director bought Stanley Black & Decker Inc. shares for $85.50 each. Upon closing the transaction, the insider’s holdings increased to 30,000 shares, worth approximately $2.51 million.
As published in a research note from Citigroup on February 03, 2023, Stanley Black & Decker Inc. [SWK] has been rated up from a Sell to a Neutral and the price target has been revised to $106 from $69. This represents a 21.01% premium over Wednesday’s closing price. Analysts at Longbow downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of October 28, 2022, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for SWK. Earlier on October 14, 2022, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for SWK stock which previously was a “an Outperform”.
Analyzing SWK Stock Performance
On Wednesday, Stanley Black & Decker Inc. [NYSE: SWK] plunged -2.20% to $83.73. The stock’s lowest price that day was $83.52, but it reached a high of $86.40 in the same session. During the last five days, there has been a drop of approximately -1.24%. Over the course of the year, Stanley Black & Decker Inc. shares have jumped approximately 11.46%. Shares of the company reached a 52-week high of $96.89 on 02/02/23 and a 52-week low of $74.40 on 01/03/23. A 50-day SMA is recorded $84.07, while a 200-day SMA reached $91.31. Nevertheless, trading volume fell to 1.6 million shares from 1.53 million shares the previous day.
Support And Resistance Levels for Stanley Black & Decker Inc. (SWK)
According to the 24-hour chart, there is a support level at 82.70, which, if violated, would cause prices to drop to 81.67. In the upper region, resistance lies at 85.58. The next price resistance is at 87.43. RSI (Relative Strength Index) is 44.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.10, which suggests the price will decrease in the coming days. Percent R is at 96.05%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Stanley Black & Decker Inc. subject to short interest?
Stocks of Stanley Black & Decker Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 2.56 million shares to 8.34 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 5.78 million shares. A jump of 30.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.7 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.7.
Which companies own the most shares of Stanley Black & Decker Inc. (SWK)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,262,289 shares, which is about 11.31% of the total SWK shares outstanding. The investor’s shares have appreciated by 546,676 from its previous 13-F filing of 16715613.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $1,155,520,555. SSgA Funds Management, Inc. acquire a 29.66% interest valued at $974.42 million while BlackRock Fund Advisors purchased a 45,461 stake. A total of -866,608 shares of Stanley Black & Decker Inc. were bought by Capital Research & Management Co during the quarter, and -6,520 were sold by Wells Fargo Bank, NA. In its current portfolio, Barrow, Hanley, Mewhinney & Strau holds 3,059,199 shares valued at $273.22 million.
In terms of Stanley Black & Decker Inc. share price expectations, FactSet research, analysts set an average price target of $94.43 in the next 12 months, up nearly 9.8% from the previous closing price of $85.61. Analysts anticipate Stanley Black & Decker Inc. stock to reach $110.00 by 2023, with the lowest price target being $80.00. In spite of this, 19 analysts ranked Stanley Black & Decker Inc. stock as a Hold at the end of 2023. On October 12, 2022, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $82.