Eads & Heald Investment Counsel Sells 1,156 Shares of Snap-On Incorporated (SNA)
Eads & Heald Investment Counsel reduced its stake in shares of Snap-On Incorporated (NYSE:SNA) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,502 shares of the company’s stock after selling 1,156 shares during the period. Eads & Heald Investment Counsel’s holdings in Snap-On were worth $1,027,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of SNA. Adirondack Trust Co. raised its stake in Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock valued at $105,000 after buying an additional 15 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock valued at $112,000 after buying an additional 312 shares during the last quarter. Van ECK Associates Corp raised its stake in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock valued at $143,000 after buying an additional 59 shares during the last quarter. IHT Wealth Management LLC raised its stake in Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock valued at $160,000 after buying an additional 119 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in Snap-On by 28.7% in the first quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock valued at $179,000 after buying an additional 237 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.
Shares of Snap-On Incorporated (NYSE SNA) opened at 152.76 on Friday. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 15.81 and a beta of 1.05. Snap-On Incorporated has a 1-year low of $145.17 and a 1-year high of $181.73. The stock’s 50 day moving average is $154.83 and its 200 day moving average is $165.25.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. The company had revenue of $921.40 million for the quarter, compared to analyst estimates of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. Snap-On’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.36 earnings per share. On average, equities analysts forecast that Snap-On Incorporated will post $10.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.86%. Snap-On’s dividend payout ratio is presently 29.34%.
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SNA has been the topic of several recent research reports. FBR & Co set a $205.00 price target on shares of Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price target on shares of Snap-On in a report on Thursday, July 6th. CIBC reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Snap-On in a report on Wednesday, April 12th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Snap-On in a report on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $197.86.
In other news, Director Ruth Ann M. Gillis purchased 265 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $152.58 per share, for a total transaction of $40,433.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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