First Midwest Bank Trust Division cut its stake in shares of Snap-On Inc. (NYSE:SNA) by 81.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,574 shares of the company’s stock after selling 15,433 shares during the period. First Midwest Bank Trust Division’s holdings in Snap-On were worth $564,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC purchased a new stake in Snap-On during the first quarter valued at $184,000. ING Groep NV purchased a new stake in Snap-On during the first quarter valued at $213,000. Rehmann Capital Advisory Group increased its stake in Snap-On by 3.5% in the first quarter. Rehmann Capital Advisory Group now owns 1,428 shares of the company’s stock valued at $224,000 after buying an additional 48 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Snap-On during the first quarter valued at $225,000. Finally, IFP Advisors Inc increased its stake in Snap-On by 58.0% in the first quarter. IFP Advisors Inc now owns 1,638 shares of the company’s stock valued at $257,000 after buying an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Snap-On Inc. (NYSE:SNA) traded up 0.49% during trading on Wednesday, hitting $151.17. 355,305 shares of the stock traded hands. The company’s 50 day moving average price is $151.52 and its 200 day moving average price is $156.57. Snap-On Inc. has a 12 month low of $133.09 and a 12 month high of $174.52. The company has a market cap of $8.78 billion, a P/E ratio of 17.33 and a beta of 1.23.
Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.13. The business earned $872.30 million during the quarter, compared to analysts’ expectations of $876.70 million. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 EPS. On average, equities research analysts anticipate that Snap-On Inc. will post $9.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, August 17th. Snap-On’s dividend payout ratio is presently 27.98%.
Several analysts recently weighed in on SNA shares. Robert W. Baird restated a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. CL King began coverage on shares of Snap-On in a report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Snap-On from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $176.56.
In other news, SVP Thomas J. Ward sold 42,000 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $151.60, for a total transaction of $6,367,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 3,500 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $157.97, for a total value of $552,895.00. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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.
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