Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Snap-On Inc. (NYSE:SNA) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 2,219 shares of the company’s stock after buying an additional 2 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Snap-On were worth $350,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of SNA. Hahn Capital Management LLC boosted its stake in shares of Snap-On by 201.4% in the first quarter. Hahn Capital Management LLC now owns 184,448 shares of the company’s stock valued at $28,956,000 after buying an additional 123,259 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Snap-On during the first quarter valued at $28,855,000. Canandaigua National Bank & Trust Co. boosted its stake in shares of Snap-On by 0.7% in the second quarter. Canandaigua National Bank & Trust Co. now owns 77,096 shares of the company’s stock valued at $12,167,000 after buying an additional 500 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Snap-On during the first quarter valued at $29,753,000. Finally, Geode Capital Management LLC boosted its stake in shares of Snap-On by 6.1% in the first quarter. Geode Capital Management LLC now owns 490,765 shares of the company’s stock valued at $76,896,000 after buying an additional 28,409 shares during the period. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
Snap-On Inc. (NYSE:SNA) opened at 151.79 on Monday. Snap-On Inc. has a 52 week low of $133.09 and a 52 week high of $174.52. The firm has a 50-day moving average of $152.47 and a 200 day moving average of $156.71. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 17.41 and a beta of 1.32.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.13. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. The business earned $872.30 million during the quarter, compared to analysts’ expectations of $876.70 million. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts anticipate that Snap-On Inc. will post $9.09 EPS for the current year.
The company also recently announced 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 of this dividend was Wednesday, August 17th. Snap-On’s payout ratio is currently 27.98%.
Several analysts recently weighed in on SNA shares. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. CL King started coverage on shares of Snap-On in a report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $176.56.
In other news, SVP Thomas L. Kassouf sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 26,612 shares in the company, valued at approximately $4,079,353.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Iain Boyd sold 3,500 shares of the business’s stock in a transaction dated 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 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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