Snap-On Incorporated (NYSE:SNA) Shares Bought by C WorldWide Group Holding A S
C WorldWide Group Holding A S boosted its stake in Snap-On Incorporated (NYSE:SNA) by 42.2% during the second quarter, Holdings Channel reports. The firm owned 12,677 shares of the company’s stock after buying an additional 3,760 shares during the period. C WorldWide Group Holding A S’s holdings in Snap-On were worth $2,003,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC increased its position in shares of Snap-On by 122.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 4,041 shares of the company’s stock valued at $682,000 after buying an additional 2,226 shares during the period. Palisade Capital Management LLC NJ increased its position in shares of Snap-On by 1.0% in the first quarter. Palisade Capital Management LLC NJ now owns 38,235 shares of the company’s stock valued at $6,449,000 after buying an additional 394 shares during the period. Howland Capital Management LLC increased its position in shares of Snap-On by 3.6% in the first quarter. Howland Capital Management LLC now owns 10,056 shares of the company’s stock valued at $1,696,000 after buying an additional 345 shares during the period. CWM LLC increased its position in shares of Snap-On by 2,211.5% in the first quarter. CWM LLC now owns 4,623 shares of the company’s stock valued at $780,000 after buying an additional 4,423 shares during the period. Finally, Doyle Wealth Management bought a new position in shares of Snap-On during the first quarter valued at $672,000. 92.25% of the stock is currently owned by institutional investors.
Snap-On Incorporated (SNA) opened at 152.46 on Friday. Snap-On Incorporated has a 52 week low of $145.17 and a 52 week high of $181.73. The firm has a 50 day moving average price of $154.18 and a 200 day moving average price of $164.25. The stock has a market capitalization of $8.78 billion, a P/E ratio of 15.78 and a beta of 1.05.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.05. The business had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. Equities research analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current year.
Snap-On announced that its board has approved a stock repurchase plan on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, August 16th. Snap-On’s payout ratio is 29.34%.
Several research analysts have weighed in on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 target price (up from $165.00) on shares of Snap-On in a research note on Sunday, April 23rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $200.00 target price on shares of Snap-On in a research note on Thursday, June 1st. BidaskClub upgraded Snap-On from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, FBR & Co reiterated an “outperform” rating and issued a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $197.86.
In other news, VP Iain Boyd sold 18,418 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Ann M. Gillis purchased 265 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were bought at an average price of $152.58 per share, for a total transaction of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently 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.
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA).
Receive News & Ratings for Snap-On Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-On Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.