Bank of America Corp DE cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.3% in the second quarter, Holdings Channel reports. The institutional investor owned 556,198 shares of the company’s stock after selling 1,909 shares during the quarter. Bank of America Corp DE’s holdings in Snap-on were worth $89,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SNA. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Snap-on by 4,648.2% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 653,687 shares of the company’s stock worth $105,061,000 after buying an additional 639,920 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Snap-on by 41.7% during the second quarter. Wells Fargo & Company MN now owns 639,556 shares of the company’s stock worth $102,789,000 after buying an additional 188,125 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Snap-on by 32.2% during the second quarter. Dimensional Fund Advisors LP now owns 669,145 shares of the company’s stock worth $107,555,000 after buying an additional 163,025 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Snap-on during the first quarter worth approximately $18,447,000. Finally, BlackRock Inc. lifted its holdings in shares of Snap-on by 3.2% during the first quarter. BlackRock Inc. now owns 3,801,586 shares of the company’s stock worth $560,885,000 after buying an additional 119,335 shares during the last quarter.

In other Snap-on news, SVP Aldo John Pagliari sold 6,480 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $177.89, for a total value of $1,152,727.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Nicholas T. Pinchuk sold 21,624 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $169.79, for a total value of $3,671,538.96. Following the completion of the sale, the chairman now owns 443,955 shares in the company, valued at $75,379,119.45. The disclosure for this sale can be found here. Insiders sold 67,895 shares of company stock valued at $11,659,865 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

SNA has been the subject of a number of research analyst reports. Barrington Research reiterated a “buy” rating and set a $200.00 price target on shares of Snap-on in a report on Monday, August 20th. Northcoast Research lowered Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. ValuEngine upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. B. Riley set a $205.00 price target on Snap-on and gave the stock a “buy” rating in a report on Tuesday, July 17th. Finally, Zacks Investment Research lowered Snap-on from a “buy” rating to a “hold” rating in a report on Monday, June 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $192.75.

Shares of NYSE SNA opened at $187.25 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.33 and a quick ratio of 1.60. The firm has a market capitalization of $10.51 billion, a P/E ratio of 18.49, a PEG ratio of 1.53 and a beta of 1.17. Snap-on Incorporated has a one year low of $141.63 and a one year high of $187.83.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 19th. The company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.16. The business had revenue of $954.60 million during the quarter, compared to analyst estimates of $952.04 million. Snap-on had a return on equity of 21.04% and a net margin of 16.04%. Snap-on’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. equities analysts anticipate that Snap-on Incorporated will post 11.8 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were paid a $0.82 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.75%. Snap-on’s payout ratio is 32.41%.

Snap-on Company Profile

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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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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