Snap-On Incorporated (NYSE:SNA) Shares Sold by HL Financial Services LLC
HL Financial Services LLC cut its position in Snap-On Incorporated (NYSE:SNA) by 4.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,584 shares of the company’s stock after selling 529 shares during the period. HL Financial Services LLC’s holdings in Snap-On were worth $1,672,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SNA. Baxter Bros Inc. bought a new position in Snap-On during the second quarter worth approximately $1,141,000. Seven Bridges Advisors LLC boosted its position in Snap-On by 5.4% in the second quarter. Seven Bridges Advisors LLC now owns 5,794 shares of the company’s stock worth $915,000 after buying an additional 296 shares during the last quarter. Retirement Systems of Alabama boosted its position in Snap-On by 0.3% in the second quarter. Retirement Systems of Alabama now owns 28,097 shares of the company’s stock worth $4,439,000 after buying an additional 75 shares during the last quarter. IFP Advisors Inc boosted its position in Snap-On by 7.8% in the second quarter. IFP Advisors Inc now owns 1,470 shares of the company’s stock worth $232,000 after buying an additional 106 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Snap-On by 26.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 3,435 shares of the company’s stock worth $543,000 after buying an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
Snap-On Incorporated (NYSE:SNA) opened at 155.20 on Thursday. Snap-On Incorporated has a one year low of $145.17 and a one year high of $181.73. The firm’s 50-day moving average is $154.26 and its 200 day moving average is $164.49. The company has a market capitalization of $8.94 billion, a PE ratio of 16.07 and a beta of 1.05.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. On average, equities analysts expect that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Snap-On declared that its Board of Directors has approved a share buyback program on Monday, August 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.83%. Snap-On’s dividend payout ratio (DPR) is presently 29.34%.
A number of research analysts have recently commented on the stock. Robert W. Baird restated an “outperform” rating and issued a $197.00 price target on shares of Snap-On in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. FBR & Co set a $205.00 price target on shares of Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $197.86.
In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Ann M. Gillis acquired 265 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is owned by corporate insiders.
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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