Stanley Black & Decker (NYSE:SWK) is a manufacturer of hand and power tools. The stock rose 2.45% on April 1. Shares have climbed 13.7% in 2019 so far.
Stanley Black & Decker is in elite company in a group of only 25 stocks that have achieved dividend-growth for 50 or more years. The company boasts the longest streak of dividend-growth in the industrial sector. In February the board of directors announced a first quarter cash dividend of $0.66 per share. This represents a 1.8% yield.
The company released its fourth-quarter and full-year results for 2018 on January 22. Full-year revenues rose 8% from the prior year to $14 billion with 5% organic growth. Excluding charges full-year diluted earnings per share were up 9% year-over-year to $8.15.
The company projects adjusted EPS between $8.45 and $8.65 for the full fiscal year 2019. Stanley Black & Decker will release its first-quarter results for fiscal 2019 on April 24.
The stock is in elite company when it comes to its history of dividend-growth, which is enough reason to target it this spring.
Value investors may see some downside as the stock has turned pricey in early April. Shares had an RSI of 64 as of close on April 1, which puts it close to overbought territory. However, considering this hot market, this should be considered fair value for such an elite income equity.
