HL Financial Services LLC boosted its position in shares of Snap-On Inc. (NYSE:SNA) by 22.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,922 shares of the company’s stock after buying an additional 2,740 shares during the period. HL Financial Services LLC’s holdings in Snap-On were worth $2,355,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SevenBridge Financial Group LLC bought a new stake in shares of Snap-On during the first quarter valued at approximately $184,000. ING Groep NV bought a new stake in shares of Snap-On during the first quarter valued at approximately $213,000. Rehmann Capital Advisory Group increased its stake in shares of 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. bought a new stake in shares of Snap-On during the first quarter valued at approximately $225,000. Finally, IFP Advisors Inc increased its stake in shares of 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. 84.72% of the stock is owned by institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded up 0.28% during mid-day trading on Wednesday, reaching $149.90. 361,718 shares of the company’s stock traded hands. 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 $8.71 billion, a P/E ratio of 17.19 and a beta of 1.32. The firm has a 50-day moving average of $152.56 and a 200 day moving average of $156.76.
Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.13. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $876.70 million. During the same quarter in the prior year, the company posted $2.03 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that Snap-On Inc. will post $9.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.44 annualized dividend and a yield of 1.63%. Snap-On’s payout ratio is 27.98%.
Several analysts recently commented on SNA shares. Zacks Investment Research raised 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. CL King started coverage on shares of Snap-On in a report on Monday, June 27th. They set a “buy” rating and a $174.00 target price for the company. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $176.56.
In related news, SVP Thomas J. Ward sold 42,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $151.60, for a total transaction of $6,367,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Iain Boyd sold 3,500 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total transaction of $552,895.00. The disclosure for this sale can be found here. Company 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.
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