Piedmont Investment Advisors LLC Decreases Stake in Snap-On Incorporated (SNA)

Piedmont Investment Advisors LLC lowered its position in shares of Snap-On Incorporated (NYSE:SNA) by 38.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,004 shares of the company’s stock after selling 6,994 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Snap-On were worth $1,640,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of Snap-On by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 139,858 shares of the company’s stock worth $20,840,000 after purchasing an additional 3,558 shares during the period. Janney Montgomery Scott LLC lifted its position in Snap-On by 9.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 64,448 shares of the company’s stock worth $9,603,000 after acquiring an additional 5,516 shares in the last quarter. Jane Street Group LLC lifted its position in Snap-On by 114.8% during the 3rd quarter. Jane Street Group LLC now owns 13,217 shares of the company’s stock worth $1,969,000 after acquiring an additional 7,065 shares in the last quarter. Cohen & Steers Inc. acquired a new position in Snap-On during the 3rd quarter worth approximately $9,707,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Snap-On by 33.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 44,580 shares of the company’s stock worth $6,642,000 after acquiring an additional 11,083 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Several research firms recently commented on SNA. B. Riley reissued a “buy” rating on shares of Snap-On in a research report on Wednesday, November 1st. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Jefferies Group reissued a “hold” rating and set a $175.00 price target on shares of Snap-On in a research report on Friday, November 3rd. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, Barrington Research raised Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target on the stock in a research report on Monday, October 23rd. 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. The company has a consensus rating of “Hold” and an average price target of $192.00.

Snap-On Incorporated (NYSE SNA) traded up $2.81 during trading on Friday, reaching $168.31. The company had a trading volume of 178,417 shares, compared to its average volume of 609,580. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73. The firm has a market cap of $9,707.18, a price-to-earnings ratio of 17.18, a PEG ratio of 1.41 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. During the same period in the prior year, the company posted $2.22 EPS. Snap-On’s quarterly revenue was up 8.4% on a year-over-year basis. sell-side analysts anticipate that Snap-On Incorporated will post 10.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, November 16th. Snap-On’s dividend payout ratio is presently 33.64%.

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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.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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