Swiss National Bank decreased its position in Snap-on Incorporated (NYSE:SNA) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,600 shares of the company’s stock after selling 5,800 shares during the period. Swiss National Bank owned approximately 0.33% of Snap-on worth $30,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Snap-on by 21.0% during the 1st quarter. BlackRock Inc. now owns 5,476,063 shares of the company’s stock valued at $857,113,000 after buying an additional 950,400 shares during the last quarter. KCL Capital L.P. purchased a new position in shares of Snap-on during the 1st quarter valued at about $12,122,000. FMR LLC raised its stake in shares of Snap-on by 2.1% during the 1st quarter. FMR LLC now owns 884,058 shares of the company’s stock valued at $138,372,000 after buying an additional 18,291 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Snap-on by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 870,603 shares of the company’s stock valued at $126,307,000 after buying an additional 69,020 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Snap-on by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,268 shares of the company’s stock valued at $119,321,000 after buying an additional 91,309 shares during the last quarter.
In other news, Chairman Nicholas T. Pinchuk sold 19,403 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total transaction of $3,193,733.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Anup R. Banerjee sold 2,800 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.40, for a total value of $421,120.00. Following the sale, the senior vice president now owns 128 shares in the company, valued at $19,251.20. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $3.21 by $0.01. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The firm had revenue of $951.30 million for the quarter, compared to analysts’ expectations of $959.33 million. During the same period last year, the firm earned $3.11 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that Snap-on Incorporated will post 12.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.
A number of research firms have weighed in on SNA. Longbow Research reiterated a “hold” rating on shares of Snap-on in a research note on Monday, July 1st. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. ValuEngine lowered Snap-on from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Zacks Investment Research lowered Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective for the company. in a research note on Tuesday, July 16th. Finally, Oppenheimer set a $180.00 price objective on Snap-on and gave the company a “buy” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $172.60.
Snap-on Company Profile
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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