The Best Stock in Connecticut: Stanley Black & Decker
We analyzed publicly traded companies based in the Constitution State to identify the best stock in Connecticut to buy now.
We scoured the nation to identify the best stock in every state. Stanley Black & Decker (symbol SWK) is the publicly traded company we picked in Connecticut. The company headquarters is located in New Britain.
A word of caution: Since we selected a single stock from each state (plus one from D.C), and choices in some states are sparse, a few of our picks are best suited to investors comfortable with a higher degree of risk. This is not necessarily one of our 51 favorite stocks in the entire U.S., in other words.
Stanley Black & Decker by the Numbers
- Headquarters: New Britain
- Share price: $142.14
- Market value: $21.8 billion
- Price-earnings ratio: 19
(Prices and data are as of June 22, 2017)
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Stanley Black & Decker has been reorganizing its toolbox. In February, the manufacturer of industrial and household tools and accessories sold the majority of its commercial door locks business for $725 million. In March, a $900 million deal with Sears gave Stanley the right to make Craftsman Brand tools and sell them through other retailers. In the same month, Stanley acquired Newell Brands’ tool business for $1.95 billion. When the dust settled on those deals, Stanley Black & Decker bumped its 2017 earnings projection from a range of $6.85 to $7.05 per share to a range of $6.98 to $7.18 per share.
Shannon O’Callaghan, an analyst with financial services firm UBS, says that Newell’s tool business enhances and broadens Stanley’s core strength, and she sees the acquisition adding 80 cents a year to Stanley’s earnings per share by 2021. Similarly, she says that Stanley has potential to expand the Craftsman brand, given its scarcity outside of Sears locations, and sees an addition of 35 cents to 45 cents to earnings per share by 2021. She rates the stock a “buy” with a 12-month price target of $147.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
Ryan joined Kiplinger in the fall of 2013. He wrote and fact-checked stories that appeared in Kiplinger's Personal Finance magazine and on Kiplinger.com. He previously interned for the CBS Evening News investigative team and worked as a copy editor and features columnist at the GW Hatchet. He holds a BA in English and creative writing from George Washington University.
-
Stock Market Today: Markets Soar Amid Strong Earnings for Big Tech
Equities ended the week on an up note thanks to some of the market's biggest names.
By Dan Burrows Published
-
Earn Delta SkyMiles Worth Up to $1,800 with an AMEX Business Card
Delta SkyMiles and American Express offer 150,000 on business credit card for new cardholders.
By Ellen Kennedy Published
-
Stock Market Today: Markets Soar Amid Strong Earnings for Big Tech
Equities ended the week on an up note thanks to some of the market's biggest names.
By Dan Burrows Published
-
Stock Market Today: Markets Tumble Amid Slower Economic Growth and Rising Prices
Disappointing readings on GDP and inflation helped tank equities.
By Dan Burrows Published
-
Stock Market Today: Stocks Run Out of Steam Ahead of Meta Earnings
The Dow Jones Industrial Average snapped a four-day winning streak after Boeing's first-quarter results.
By Karee Venema Published
-
Stock Market Today: Nasdaq Soars Ahead of Tesla Earnings
The EV stock rose nearly 2% ahead of its highly anticipated Q1 earnings report, due after tonight's close.
By Karee Venema Published
-
Stock Market Today: Markets Rebound Ahead of Big Week for Earnings
Equities rallied on easing geopolitical tensions, upcoming quarterly results.
By Dan Burrows Published
-
Stock Market Today: Nasdaq Spirals as Netflix Nosedives
A big earnings boom for credit card giant American Express helped the Dow notch another win.
By Karee Venema Published
-
Stock Market Today: S&P 500, Nasdaq Extend Losing Streaks
The two indexes have closed lower for five straight sessions.
By Karee Venema Published
-
Stock Market Today: Dow Slips After Travelers' Earnings Miss
The property and casualty insurer posted a bottom-line miss as catastrophe losses spiked.
By Karee Venema Published