O Shares Investment Advisers LLC raised its position in Snap-on Incorporated (NYSE:SNA) by 6.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,113 shares of the company’s stock after acquiring an additional 119 shares during the period. O Shares Investment Advisers LLC’s holdings in Snap-on were worth $350,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Signaturefd LLC lifted its stake in shares of Snap-on by 326.7% in the first quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Snap-on in the second quarter valued at about $35,000. Motco acquired a new stake in shares of Snap-on in the second quarter valued at about $37,000. Zions Bancorporation N.A. purchased a new position in Snap-on during the 1st quarter valued at about $56,000. Finally, Icon Wealth Partners LLC purchased a new position in Snap-on during the 1st quarter valued at about $65,000.
In related news, Chairman Nicholas T. Pinchuk sold 19,403 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $164.60, for a total value of $3,193,733.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anup R. Banerjee sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.40, for a total transaction of $421,120.00. Following the completion of the sale, the senior vice president now owns 128 shares of the company’s stock, valued at $19,251.20. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several equities analysts have weighed in on SNA shares. Barrington Research restated a “buy” rating and set a $185.00 target price on shares of Snap-on in a report on Wednesday, May 29th. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 target price for the company. in a report on Tuesday, July 16th. Longbow Research restated a “hold” rating on shares of Snap-on in a report on Monday, July 1st. Robert W. Baird set a $164.00 target price on shares of Snap-on and gave the company a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $172.60.
Shares of NYSE SNA traded down $4.72 during midday trading on Tuesday, reaching $157.33. 6,651 shares of the stock were exchanged, compared to its average volume of 316,043. The company has a market capitalization of $8.95 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.52 and a beta of 1.25. Snap-on Incorporated has a 52-week low of $135.29 and a 52-week high of $189.46. The company has a current ratio of 2.48, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $151.06 and a 200-day moving average price of $158.16.
Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.01. The business had revenue of $951.30 million during the quarter, compared to the consensus estimate of $959.33 million. Snap-on had a net margin of 18.70% and a return on equity of 21.40%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.11 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 12.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.95 per share. The ex-dividend date was Monday, August 19th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.42%. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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