Intrust Bank NA reduced its stake in Snap-on Incorporated (NYSE:SNA) by 46.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,841 shares of the company’s stock after selling 1,605 shares during the quarter. Intrust Bank NA’s holdings in Snap-on were worth $267,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of SNA. Bank of New York Mellon Corp grew its holdings in Snap-on by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 602,529 shares of the company’s stock worth $96,838,000 after purchasing an additional 15,123 shares during the last quarter. First Hawaiian Bank purchased a new position in Snap-on in the third quarter worth $401,000. Aperio Group LLC grew its holdings in Snap-on by 3.7% in the third quarter. Aperio Group LLC now owns 21,984 shares of the company’s stock worth $4,036,000 after purchasing an additional 787 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Snap-on by 32.9% in the third quarter. IFM Investors Pty Ltd now owns 2,627 shares of the company’s stock worth $482,000 after purchasing an additional 651 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Snap-on in the third quarter worth $2,619,000.
Several equities analysts have issued reports on SNA shares. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating in a report on Monday, February 4th. TheStreet lowered shares of Snap-on from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Finally, Bank of America started coverage on shares of Snap-on in a report on Friday, December 21st. They set a “buy” rating and a $165.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Snap-on presently has an average rating of “Buy” and a consensus target price of $190.33.
In related news, Director William Dudley Lehman sold 387 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $157.19, for a total transaction of $60,832.53. Following the completion of the transaction, the director now directly owns 9,996 shares in the company, valued at $1,571,271.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Nicholas T. Pinchuk sold 22,433 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $140.80, for a total transaction of $3,158,566.40. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Shares of SNA opened at $157.78 on Tuesday. The firm has a market cap of $8.79 billion, a PE ratio of 13.36, a P/E/G ratio of 1.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 2.33. Snap-on Incorporated has a 1-year low of $135.29 and a 1-year high of $189.46.
Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.03. The firm had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.74 million. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.69 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 12.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 25th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, February 22nd. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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