Miller Howard Investments Inc. NY Increases Stake in Snap-on Incorporated (NYSE:SNA)

Miller Howard Investments Inc. NY lifted its stake in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 86.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 296,853 shares of the company’s stock after buying an additional 137,474 shares during the period. Snap-on comprises about 2.1% of Miller Howard Investments Inc. NY’s holdings, making the stock its 16th largest position. Miller Howard Investments Inc. NY’s holdings in Snap-on were worth $60,997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of Snap-on by 116.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 70,202 shares of the company’s stock valued at $15,227,000 after buying an additional 37,763 shares during the period. Cetera Investment Advisers boosted its stake in Snap-on by 34.5% during the fourth quarter. Cetera Investment Advisers now owns 3,130 shares of the company’s stock worth $674,000 after acquiring an additional 803 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Snap-on by 3.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 17,987 shares of the company’s stock worth $3,874,000 after acquiring an additional 645 shares in the last quarter. Pictet Asset Management SA boosted its stake in Snap-on by 3.8% during the fourth quarter. Pictet Asset Management SA now owns 31,616 shares of the company’s stock worth $6,809,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in Snap-on by 1.3% during the first quarter. Capital Investment Advisors LLC now owns 66,838 shares of the company’s stock worth $13,734,000 after acquiring an additional 888 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

SNA stock opened at $198.24 on Friday. The company has a fifty day simple moving average of $212.46 and a two-hundred day simple moving average of $211.99. The firm has a market capitalization of $10.58 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 2.32, a current ratio of 3.16 and a debt-to-equity ratio of 0.27. Snap-on Incorporated has a 52 week low of $190.08 and a 52 week high of $235.36.

Snap-on (NYSE:SNAGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.68 by $0.32. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Snap-on had a net margin of 19.54% and a return on equity of 20.34%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.50 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 15.78 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 20th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, May 19th. Snap-on’s dividend payout ratio is currently 36.81%.

Several research analysts have recently issued reports on the stock. Tigress Financial upped their target price on shares of Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. StockNews.com initiated coverage on shares of Snap-on in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, MKM Partners initiated coverage on shares of Snap-on in a report on Thursday, June 9th. They set a “neutral” rating and a $238.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Hold” and an average price target of $254.50.

In other news, CEO Nicholas T. Pinchuk sold 19,394 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total value of $4,200,352.52. Following the sale, the chief executive officer now directly owns 622,123 shares in the company, valued at approximately $134,739,399.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.

Snap-on Profile (Get Rating)

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It 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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