Vaughan Nelson Investment Management L.P. boosted its position in Snap-on Incorporated (NYSE:SNA) by 107.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 694,612 shares of the company’s stock after purchasing an additional 359,772 shares during the period. Snap-on comprises approximately 1.2% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 6th largest position. Vaughan Nelson Investment Management L.P. owned about 1.21% of Snap-on worth $103,506,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC grew its stake in shares of Snap-on by 63.7% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after buying an additional 263 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in Snap-on in the 2nd quarter worth $126,000. Acrospire Investment Management LLC lifted its holdings in Snap-on by 700.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after buying an additional 700 shares in the last quarter. Lloyds Banking Group plc acquired a new position in Snap-on in the 2nd quarter worth $129,000. Finally, IHT Wealth Management LLC raised its stake in shares of Snap-on by 13.8% in 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. Institutional investors own 94.97% of the company’s stock.
A number of brokerages have recently issued reports on SNA. B. Riley restated a “buy” rating on shares of Snap-on in a research note on Wednesday, November 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price objective on shares of Snap-on in a research report on Friday, November 3rd. Robert W. Baird restated an “outperform” rating and issued a $197.00 target price on shares of Snap-on in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Snap-on from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $192.00.
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Snap-on Incorporated (NYSE:SNA) opened at $155.87 on Friday. Snap-on Incorporated has a 12 month low of $140.83 and a 12 month high of $181.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75. The company has a market cap of $8,939.30, a price-to-earnings ratio of 15.82, a PEG ratio of 1.46 and a beta of 1.12.
Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. Snap-on had a net margin of 13.91% and a return on equity of 18.52%. Snap-on’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.22 EPS. research analysts forecast that Snap-on Incorporated will post 10.09 earnings per share for the current year.
Snap-on declared that its Board of Directors has initiated a stock repurchase plan 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. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Snap-on’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, November 16th. Snap-on’s dividend payout ratio (DPR) is presently 29.13%.
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.
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