Dynamic Technology Lab Private Ltd Acquires New Stake in Snap-On Incorporated $SNA

Dynamic Technology Lab Private Ltd purchased a new position in Snap-On Incorporated (NYSE:SNA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,089 shares of the company’s stock, valued at approximately $650,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tobam acquired a new position in shares of Snap-On during the second quarter valued at about $29,000. Ameritas Advisory Services LLC bought a new position in Snap-On in the 2nd quarter valued at about $30,000. Ransom Advisory Ltd purchased a new position in Snap-On during the 1st quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Finally, Harbor Asset Planning Inc. bought a new position in Snap-On during the second quarter valued at about $45,000. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNA shares. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reissued a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Tigress Financial boosted their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Five equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Price Performance

Shares of NYSE:SNA opened at $336.07 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The firm’s 50 day simple moving average is $338.96 and its two-hundred day simple moving average is $327.80. The company has a market capitalization of $17.48 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.33 and a beta of 0.81.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.70 earnings per share. Research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.