Capital Fund Management S.A. increased its stake in shares of Snap-On Inc. (NYSE:SNA) by 2,608.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,526 shares of the company’s stock after buying an additional 54,439 shares during the period. Capital Fund Management S.A.’s holdings in Snap-On were worth $8,921,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Snap-On by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 2,506,095 shares of the company’s stock valued at $393,431,000 after buying an additional 233,063 shares during the last quarter. State Street Corp increased its position in Snap-On by 0.8% in the first quarter. State Street Corp now owns 2,237,403 shares of the company’s stock valued at $351,242,000 after buying an additional 17,632 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Snap-On by 4.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,606,867 shares of the company’s stock valued at $252,262,000 after buying an additional 63,151 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Snap-On by 44.5% in the first quarter. UBS Asset Management Americas Inc. now owns 1,022,246 shares of the company’s stock valued at $160,482,000 after buying an additional 314,663 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Snap-On by 55.7% in the first quarter. Goldman Sachs Group Inc. now owns 829,568 shares of the company’s stock valued at $130,234,000 after buying an additional 296,685 shares during the last quarter. 84.72% of the stock is owned by institutional investors and hedge funds.
Snap-On Inc. (NYSE:SNA) traded down 1.12% during midday trading on Thursday, hitting $149.20. 338,428 shares of the stock traded hands. The stock’s 50-day moving average price is $151.86 and its 200 day moving average price is $156.68. Snap-On Inc. has a 52 week low of $133.09 and a 52 week high of $174.52. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 17.11 and a beta of 1.32.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.23 by $0.13. The company earned $872.30 million during the quarter, compared to analysts’ expectations of $876.70 million. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. Snap-On’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 earnings per share. On average, equities research analysts predict that Snap-On Inc. will post $9.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were paid a dividend of $0.61 per share. The ex-dividend date was Wednesday, August 17th. This represents a $2.44 annualized dividend and a yield of 1.64%. Snap-On’s dividend payout ratio is currently 27.98%.
Several research firms have recently issued reports on SNA. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a research note on Tuesday, June 28th. Finally, CL King began coverage on shares of Snap-On in a research note on Monday, June 27th. They set a “buy” rating and a $174.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Snap-On presently has an average rating of “Buy” and a consensus target price of $176.56.
In other Snap-On news, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $151.60, for a total value of $6,367,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas L. Kassouf sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $153.29, for a total transaction of $306,580.00. Following the completion of the transaction, the senior vice president now directly owns 26,612 shares of the company’s stock, valued at approximately $4,079,353.48. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Inc. (NYSE:SNA).
Receive News & Ratings for Snap-On Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-On Inc. and related companies with MarketBeat.com's FREE daily email newsletter.