LSV Asset Management Buys 21,715 Shares of Snap-on Incorporated (SNA)
LSV Asset Management increased its stake in Snap-on Incorporated (NYSE:SNA) by 16.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 157,338 shares of the company’s stock after buying an additional 21,715 shares during the period. LSV Asset Management owned 0.28% of Snap-on worth $28,887,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of SNA. Baird Financial Group Inc. lifted its position in Snap-on by 2.0% in the 2nd quarter. Baird Financial Group Inc. now owns 53,715 shares of the company’s stock valued at $8,630,000 after acquiring an additional 1,046 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Snap-on by 2.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 59,533 shares of the company’s stock valued at $9,567,000 after acquiring an additional 1,334 shares in the last quarter. Cooke & Bieler LP lifted its position in Snap-on by 2.6% in the 2nd quarter. Cooke & Bieler LP now owns 733,798 shares of the company’s stock valued at $117,936,000 after acquiring an additional 18,878 shares in the last quarter. Schroder Investment Management Group lifted its position in Snap-on by 7.1% in the 2nd quarter. Schroder Investment Management Group now owns 497,887 shares of the company’s stock valued at $80,657,000 after acquiring an additional 32,839 shares in the last quarter. Finally, BB&T Corp lifted its position in Snap-on by 400.3% in the 2nd quarter. BB&T Corp now owns 38,897 shares of the company’s stock valued at $6,251,000 after acquiring an additional 31,123 shares in the last quarter.
SNA has been the topic of several analyst reports. Zacks Investment Research raised Snap-on from a “sell” rating to a “hold” rating and set a $192.00 price objective on the stock in a research report on Monday, July 23rd. Northcoast Research cut Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Barrington Research reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Snap-on in a research report on Monday, August 20th. Finally, Robert W. Baird lowered their price objective on Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $195.40.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.02. The firm had revenue of $898.10 million for the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 EPS. As a group, analysts forecast that Snap-on Incorporated will post 11.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.30%. This is a boost from Snap-on’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, November 19th. Snap-on’s dividend payout ratio is presently 32.41%.
In other news, SVP Aldo John Pagliari sold 6,480 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.
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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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