Swiss National Bank lowered its position in shares of Snap-on (NYSE:SNA) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,800 shares of the company’s stock after selling 29,700 shares during the quarter. Swiss National Bank owned 0.32% of Snap-on worth $27,118,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Canandaigua National Bank & Trust Co. raised its position in Snap-on by 1.4% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 21,056 shares of the company’s stock worth $3,670,000 after buying an additional 300 shares during the last quarter. First National Bank of Omaha raised its position in Snap-on by 1.0% during the 4th quarter. First National Bank of Omaha now owns 29,599 shares of the company’s stock worth $5,159,000 after buying an additional 307 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Snap-on by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 9,983 shares of the company’s stock worth $1,740,000 after buying an additional 331 shares during the last quarter. Stonebridge Capital Advisors LLC raised its position in Snap-on by 1.4% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 26,251 shares of the company’s stock worth $4,576,000 after buying an additional 350 shares during the last quarter. Finally, Reilly Herbert Faulkner III raised its position in Snap-on by 1.4% during the 4th quarter. Reilly Herbert Faulkner III now owns 26,098 shares of the company’s stock worth $4,549,000 after buying an additional 361 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.
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A number of equities analysts have commented on the stock. Barrington Research restated a “buy” rating on shares of Snap-on in a research report on Monday, April 16th. Robert W. Baird cut their price objective on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. B. Riley set a $205.00 price objective on shares of Snap-on and gave the stock a “buy” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Finally, Northcoast Research set a $178.00 price target on shares of Snap-on and gave the company a “buy” rating in a report on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Snap-on currently has a consensus rating of “Hold” and a consensus price target of $189.13.
In related news, SVP Thomas L. Kassouf sold 96,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $160.40, for a total value of $15,398,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 5,743 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $159.93, for a total transaction of $918,477.99. Following the completion of the sale, the senior vice president now directly owns 51,840 shares in the company, valued at $8,290,771.20. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
Shares of Snap-on opened at $150.33 on Friday, according to Marketbeat. The company has a quick ratio of 1.57, a current ratio of 2.28 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.53 billion, a PE ratio of 14.85, a P/E/G ratio of 1.25 and a beta of 1.16. Snap-on has a 52-week low of $140.83 and a 52-week high of $185.47.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 19th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.06. The business had revenue of $935.50 million during the quarter, compared to the consensus estimate of $926.52 million. Snap-on had a net margin of 15.50% and a return on equity of 20.63%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 EPS. equities research analysts forecast that Snap-on will post 11.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Monday, May 21st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.18%. Snap-on’s dividend payout ratio is presently 32.41%.
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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