There is plenty of potential for this tool maker to earn even more in the years to come.
We are buying 75 shares of Stanley Black & Decker at roughly $86.93. Following Friday trade, Jim Cramer's Charitable Trust will own 575 shares of SWK, increasing its weighting to 1.73% from 1.51%. We are picking up more shares of the tool company into this week's decline of roughly 4.5%, a stock move that was largely based on the increase in U.S. interest rates and the negative impact it has on housing-related stocks.
Through the first half of the year, Stanley has been ahead of schedule on both of these initiatives and management still has a line of site into an additional cost reduction of $1 billion after the end of this year. Confidence is building in Stanley's earnings per share to be in the "zip code" of about $5, up from the $0.70 to $1.30 it expects to earn this year.
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