Vanguard Group Inc. raised its position in shares of Snap-On Inc. (NYSE:SNA) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,075,199 shares of the company’s stock after buying an additional 101,971 shares during the period. Vanguard Group Inc. owned 8.74% of Snap-On worth $800,968,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. SevenBridge Financial Group LLC acquired a new stake in shares of Snap-On during the first quarter worth $184,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Snap-On by 2.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,476 shares of the company’s stock worth $210,000 after buying an additional 34 shares during the last quarter. ING Groep NV purchased a new position in shares of Snap-On during the first quarter worth approximately $213,000. Rehmann Capital Advisory Group boosted its position 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 worth $224,000 after buying an additional 48 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Snap-On during the first quarter worth approximately $225,000. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded up 0.20% on Tuesday, reaching $151.28. The company had a trading volume of 24,910 shares. The company has a market capitalization of $8.79 billion, a PE ratio of 17.35 and a beta of 1.32. Snap-On Inc. has a one year low of $133.09 and a one year high of $174.52. The company’s 50-day moving average is $152.32 and its 200-day moving average is $156.79.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the 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 company earned $872.30 million during the quarter, compared to analyst estimates of $876.70 million. During the same period in the previous year, the business earned $2.03 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Snap-On Inc. will post $9.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 17th. Snap-On’s dividend payout ratio is presently 27.98%.
A number of research analysts have recently commented on SNA shares. Robert W. Baird reiterated a “buy” rating on shares of Snap-On in a research note on Tuesday, June 28th. CL King started coverage on Snap-On in a research note on Monday, June 27th. They issued a “buy” rating and a $174.00 price target for the company. Finally, Zacks Investment Research upgraded Snap-On from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Snap-On presently has an average rating of “Buy” and a consensus price target of $176.56.
In other Snap-On news, SVP Thomas J. Ward sold 42,000 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas L. Kassouf sold 2,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 26,612 shares of the company’s stock, valued at $4,079,353.48. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
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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