2,365 Shares in Snap-On Incorporated $SNA Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new position in Snap-On Incorporated (NYSE:SNA) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,365 shares of the company’s stock, valued at approximately $736,000.

Several other hedge funds have also recently made changes to their positions in the business. Forvis Mazars Wealth Advisors LLC lifted its stake in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after purchasing an additional 32 shares during the last quarter. Horizon Investments LLC raised its holdings in Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after buying an additional 32 shares during the period. Penserra Capital Management LLC lifted its position in Snap-On by 13.5% in the second quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after buying an additional 33 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Snap-On by 5.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after buying an additional 34 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Snap-On by 28.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after acquiring an additional 35 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNA shares. Tigress Financial lifted their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Bank of America upped their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Snap-On Stock Performance

Shares of NYSE:SNA opened at $336.05 on Friday. The firm has a 50 day moving average of $338.60 and a 200 day moving average of $326.93. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $4.70 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.9%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is currently 51.18%.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.