Eagle Boston Investment Management Inc. acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,487 shares of the company’s stock, valued at approximately $248,000.
A number of other hedge funds have also recently bought and sold shares of the business. Eagle Asset Management Inc. lifted its stake in Snap-on by 33.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,584 shares of the company’s stock valued at $8,032,000 after buying an additional 11,638 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Snap-on by 15.6% during the fourth quarter. D.A. Davidson & CO. now owns 8,995 shares of the company’s stock valued at $1,568,000 after buying an additional 1,213 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Snap-on by 31.6% in the fourth quarter. Chartwell Investment Partners LLC now owns 13,295 shares of the company’s stock worth $2,317,000 after purchasing an additional 3,195 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Snap-on by 12.5% in the fourth quarter. Toronto Dominion Bank now owns 24,592 shares of the company’s stock worth $4,287,000 after purchasing an additional 2,734 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Snap-on by 147.6% in the fourth quarter. First Trust Advisors LP now owns 433,341 shares of the company’s stock worth $75,531,000 after purchasing an additional 258,310 shares in the last quarter. 99.00% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Wednesday. Robert W. Baird reduced their price target on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research report on Thursday, February 8th. Jefferies Group reissued a “hold” rating and issued a $175.00 price target on shares of Snap-on in a research report on Friday, November 3rd. Finally, Barrington Research raised shares of Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $192.00.
Shares of Snap-on Incorporated (NYSE:SNA) opened at $160.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock has a market cap of $9,125.27, a P/E ratio of 15.88, a PEG ratio of 1.36 and a beta of 1.09. Snap-on Incorporated has a 52-week low of $140.83 and a 52-week high of $185.47.
Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.03. The firm had revenue of $974.60 million for the quarter, compared to analyst estimates of $940.50 million. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. research analysts anticipate that Snap-on Incorporated will post 11.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 1st. Snap-on’s payout ratio is presently 34.45%.
In related news, Director William Dudley Lehman sold 387 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $160.60, for a total transaction of $62,152.20. Following the transaction, the director now owns 8,376 shares of the company’s stock, valued at $1,345,185.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total transaction of $3,609,694.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,612 shares of company stock worth $7,742,082. Insiders own 3.70% of the company’s stock.
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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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