Flagship Harbor Advisors LLC Buys New Stake in Snap-on Incorporated (SNA)
Flagship Harbor Advisors LLC bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 729 shares of the company’s stock, valued at approximately $117,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its position in Snap-on by 1.4% during the second quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after buying an additional 53,689 shares during the period. Principal Financial Group Inc. grew its position in Snap-on by 3.4% during the first quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after buying an additional 34,012 shares during the period. Earnest Partners LLC grew its position in Snap-on by 3.8% during the second quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after buying an additional 37,244 shares during the period. Northern Trust Corp grew its position in Snap-on by 0.8% during the first quarter. Northern Trust Corp now owns 957,476 shares of the company’s stock worth $141,266,000 after buying an additional 8,067 shares during the period. Finally, Ariel Investments LLC grew its position in Snap-on by 10.0% during the second quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after buying an additional 84,287 shares during the period.
In related news, CEO Nicholas T. Pinchuk sold 21,921 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $157.88, for a total transaction of $3,460,887.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Aldo John Pagliari sold 6,480 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $177.89, for a total transaction of $1,152,727.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,816 shares of company stock worth $15,120,752. 4.00% of the stock is owned by company insiders.
SNA stock opened at $186.42 on Monday. The company has a market capitalization of $10.52 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17. Snap-on Incorporated has a 12 month low of $141.63 and a 12 month high of $187.83. The company has a current ratio of 2.33, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 19th. The company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.95 by $0.16. The business had revenue of $954.60 million for the quarter, compared to analyst estimates of $952.04 million. Snap-on had a net margin of 16.04% and a return on equity of 21.04%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 earnings per share. equities analysts anticipate that Snap-on Incorporated will post 11.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were given a dividend of $0.82 per share. The ex-dividend date was Thursday, August 16th. This represents a $3.28 dividend on an annualized basis and a yield of 1.76%. Snap-on’s dividend payout ratio (DPR) is currently 32.41%.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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