Swiss National Bank Grows Stake in Snap-On Incorporated (SNA)
Swiss National Bank increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,500 shares of the company’s stock after purchasing an additional 2,100 shares during the period. Swiss National Bank owned about 374,495.70% of Snap-On worth $31,814,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Snap-On by 30.7% during the third quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock valued at $126,547,000 after purchasing an additional 199,647 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Snap-On by 2.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 14,261 shares of the company’s stock valued at $2,125,000 after purchasing an additional 321 shares during the period. Jacobi Capital Management LLC bought a new stake in shares of Snap-On during the third quarter valued at approximately $215,000. Smith Salley & Associates increased its position in shares of Snap-On by 3.4% during the third quarter. Smith Salley & Associates now owns 24,882 shares of the company’s stock valued at $3,708,000 after purchasing an additional 828 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Snap-On by 77.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,839 shares of the company’s stock valued at $423,000 after buying an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.
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Snap-On Incorporated (NYSE SNA) opened at $157.07 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. The company has a market capitalization of $8,932.46, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. Snap-On Incorporated has a one year low of $140.83 and a one year high of $181.73.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 earnings per share. sell-side analysts expect 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, December 8th. Shareholders of record on Friday, November 17th will be paid a $0.82 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.28 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s payout ratio is currently 29.13%.
Snap-On declared that its board has approved a share repurchase program on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several analysts recently commented on SNA shares. FBR & Co set a $205.00 price target on Snap-On and gave the company a “buy” rating in a research note on Friday, July 21st. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and issued a $197.00 price target on shares of Snap-On in a research note on Wednesday, August 2nd. Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Finally, Zacks Investment Research lowered Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $192.00.
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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