5 Best Hardware Stocks to Buy Now

2. Stanley Black & Decker, Inc. (NYSE: SWK)

Number of Hedge Fund Holders: 38

Stanley Black & Decker, Inc. (NYSE: SWK) is a Connecticut-based maker of industrial tools and household hardware. The firm also has stakes in the security products business. Some of the products that it makes include corded and cordless electric power tools, as well as pneumatic tools and fasteners. The company also provides engineering fastening systems to the automotive, manufacturing, electronics, construction, and aerospace sectors, among others. The firm was founded in 1843 and is second on our list of 10 best hardware stocks to buy now.

Stanley Black & Decker, Inc. (NYSE: SWK) has a market cap of more than $33 billion and posted an annual revenue of more than $14.5 billion in December 2020, up slightly from $14 billion posted the year before. On March 12, Bank of American upgraded Stanley Black to a rating of Buy from Neutral with a price target of $205. 

At the end of the fourth quarter of 2020, 38 hedge funds in the database of Insider Monkey held stakes worth $846 million in the firm, the same as in the preceding quarter worth $786 million.