New England Research & Management Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 19.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,136 shares of the company’s stock after selling 1,275 shares during the period. New England Research & Management Inc.’s holdings in Snap-on were worth $765,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in SNA. Morgan Dempsey Capital Management LLC lifted its position in Snap-on by 63.7% during the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after acquiring an additional 263 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in Snap-on during the 2nd quarter valued at approximately $126,000. Acrospire Investment Management LLC increased its stake in Snap-on by 700.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $126,000 after purchasing an additional 700 shares in the last quarter. Lloyds Banking Group plc acquired a new position in Snap-on during the 2nd quarter valued at approximately $129,000. Finally, IHT Wealth Management LLC increased its stake in Snap-on by 13.8% during the 1st quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock valued at $160,000 after purchasing an additional 119 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. B. Riley reiterated a “buy” rating on shares of Snap-on in a research note on Wednesday, November 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 price objective on shares of Snap-on in a research note on Friday, November 3rd. Barrington Research upgraded shares of Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price objective on the stock in a research note on Monday, October 23rd. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $177.00 price target on shares of Snap-on in a report on Thursday, October 19th. Finally, FBR & Co reissued a “buy” rating and set a $205.00 price target on shares of Snap-on in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Snap-on has a consensus rating of “Hold” and an average price target of $192.00.
ILLEGAL ACTIVITY WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/12/new-england-research-management-inc-reduces-holdings-in-snap-on-incorporated-sna.html.
Snap-on Incorporated (NYSE:SNA) opened at $155.87 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. The firm has a market cap of $8,939.30, a PE ratio of 15.82, a PEG ratio of 1.46 and a beta of 1.12. Snap-on Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. Snap-on had a net margin of 13.91% and a return on equity of 18.52%. The firm had revenue of $903.80 million for the quarter, compared to the consensus estimate of $889.22 million. During the same period last year, the firm posted $2.22 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. research analysts anticipate that Snap-on Incorporated will post 10.09 EPS for the current year.
Snap-on announced that its board has initiated a stock buyback program on Monday, August 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $0.82 per share. This is a boost from Snap-on’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 16th. Snap-on’s dividend payout ratio (DPR) is presently 29.13%.
Snap-on Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
Receive News & Ratings for Snap-on Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.