Snap-On Incorporated (SNA) Holdings Lifted by Dorsey & Whitney Trust CO LLC
Dorsey & Whitney Trust CO LLC raised its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,270 shares of the company’s stock after buying an additional 1,162 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Snap-On were worth $1,780,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Snap-On in the first quarter valued at approximately $394,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Snap-On by 13.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,638 shares of the company’s stock valued at $811,000 after purchasing an additional 560 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Snap-On by 10.3% in the first quarter. Daiwa Securities Group Inc. now owns 1,600 shares of the company’s stock valued at $270,000 after purchasing an additional 150 shares during the period. Swiss National Bank boosted its holdings in shares of Snap-On by 27.9% in the first quarter. Swiss National Bank now owns 205,600 shares of the company’s stock valued at $34,679,000 after purchasing an additional 44,800 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of Snap-On by 17.6% in the first quarter. World Asset Management Inc now owns 6,305 shares of the company’s stock valued at $1,063,000 after purchasing an additional 945 shares during the period. Institutional investors and hedge funds own 93.77% of the company’s stock.
In related news, Director Ruth Ann M. Gillis purchased 265 shares of Snap-On stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $152.58 per share, with a total value of $40,433.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction on Monday, July 24th. The shares were 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. 3.70% of the stock is currently owned by insiders.
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A number of analysts recently issued reports on SNA shares. FBR & Co set a $205.00 price target on Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $200.00 target price on shares of Snap-On in a report on Thursday, June 1st. Finally, Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Snap-On has a consensus rating of “Hold” and a consensus target price of $197.86.
Shares of Snap-On Incorporated (NYSE SNA) traded down 0.95% during trading on Thursday, hitting $147.55. The stock had a trading volume of 101,455 shares. The stock has a market cap of $8.50 billion, a P/E ratio of 15.27 and a beta of 1.05. The stock’s 50 day moving average price is $149.13 and its 200-day moving average price is $160.02. Snap-On Incorporated has a one year low of $140.83 and a one year high of $181.73.
Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The business had revenue of $921.40 million during the quarter, compared to analysts’ expectations of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 EPS. Analysts expect that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. Snap-On’s dividend payout ratio (DPR) is currently 29.34%.
Snap-On declared that its board has approved a share 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 usually an indication that the company’s board believes its stock is undervalued.
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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