American tool and storage company Stanley Black & Decker, Inc. (SWK) in New Britain, Conn., reported mixed fourth-quarter results recently. While its sales for the quarter missed the consensus estimate by 8.7%, its $2.14 per share adjusted earnings beat the Street’s estimate by 3.9%. Its board of directors has approved a regular first-quarter cash dividend of $0.79 per common share, extending the company's record for the longest consecutive annual and quarterly dividend payments among industrial companies.
However, Citi analysts double downgraded their rating for the stock to Sell from Buy and cut their price target on the stock to $145 from $215. SWK also saw a decline in hedge fund sentiment.
