Keybank National Association OH grew its holdings in Snap-On Incorporated (NYSE:SNA) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,534 shares of the company’s stock after purchasing an additional 103 shares during the quarter. Keybank National Association OH’s holdings in Snap-On were worth $558,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Morgan Dempsey Capital Management LLC boosted its stake in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after purchasing an additional 263 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after purchasing an additional 312 shares in the last quarter. Lloyds Banking Group plc acquired a new position in Snap-On in the second quarter worth $129,000. Van ECK Associates Corp boosted its stake in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after purchasing an additional 59 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its stake in Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after purchasing an additional 119 shares in the last quarter. 93.77% of the stock is currently owned by institutional investors.
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In other Snap-On news, Director Ruth Ann M. Gillis acquired 265 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
Snap-On Incorporated (NYSE:SNA) opened at 147.00 on Monday. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 15.22 and a beta of 1.05. The stock’s 50 day moving average price is $149.16 and its 200 day moving average price is $160.52.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 20th. The company reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The firm had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.36 EPS. On average, equities research analysts predict that Snap-On Incorporated will post $10.09 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.93%. The ex-dividend date was Wednesday, August 16th. Snap-On’s payout ratio is presently 29.34%.
Snap-On declared that its Board of Directors has initiated a share repurchase plan on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have commented on SNA shares. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research note on Thursday, July 6th. Finally, FBR & Co reissued an “outperform” rating and issued a $205.00 price objective on shares of Snap-On in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $197.86.
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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