Hahn Capital Management LLC lowered its stake in Snap-on (NYSE:SNA) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,604 shares of the company’s stock after selling 3,026 shares during the period. Snap-on accounts for approximately 3.1% of Hahn Capital Management LLC’s holdings, making the stock its 16th biggest holding. Hahn Capital Management LLC owned 0.33% of Snap-on worth $33,222,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Cohen & Steers Inc. bought a new stake in Snap-on in the third quarter valued at $9,707,000. Toronto Dominion Bank boosted its holdings in shares of Snap-on by 11.3% during the 3rd quarter. Toronto Dominion Bank now owns 21,858 shares of the company’s stock valued at $3,257,000 after buying an additional 2,227 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Snap-on by 8.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after buying an additional 270,905 shares in the last quarter. California Public Employees Retirement System boosted 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 valued at $20,840,000 after buying an additional 3,558 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Snap-on by 20.4% during the 4th quarter. Comerica Bank now owns 20,827 shares of the company’s stock valued at $3,806,000 after buying an additional 3,523 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.
In other Snap-on news, SVP Anup R. Banerjee sold 2,091 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $160.11, for a total value of $334,790.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas L. Kassouf sold 96,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $160.40, for a total value of $15,398,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,995 shares of company stock valued at $16,839,572. 4.00% of the stock is owned by insiders.
SNA opened at $145.96 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 capitalization of $8,539.92, a PE ratio of 14.42, a P/E/G ratio of 1.27 and a beta of 1.16. Snap-on has a 1 year low of $140.83 and a 1 year high of $185.47.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.03. The firm had revenue of $974.60 million during the quarter, compared to analyst estimates of $940.50 million. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. Snap-on’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. sell-side analysts forecast that Snap-on will post 11.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, March 1st. Snap-on’s dividend payout ratio is presently 32.41%.
A number of analysts have recently commented on SNA shares. Zacks Investment Research cut shares of Snap-on from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Barrington Research restated a “buy” rating on shares of Snap-on in a report on Thursday, March 8th. B. Riley restated a “buy” rating and set a $205.00 target price on shares of Snap-on in a report on Thursday, January 4th. Finally, Robert W. Baird restated a “buy” rating and set a $220.00 target price (up previously from $184.00) on shares of Snap-on in a report on Monday, January 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $192.00.
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Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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