New Mexico Educational Retirement Board trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 5,046 shares of the company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Snap-on were worth $926,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in Snap-on by 104.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 670 shares of the company’s stock worth $123,000 after purchasing an additional 342 shares in the last quarter. Legacy Advisors LLC bought a new stake in Snap-on during the 3rd quarter worth approximately $127,000. Rehmann Capital Advisory Group increased its stake in Snap-on by 11.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 716 shares of the company’s stock worth $131,000 after purchasing an additional 74 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Snap-on during the 2nd quarter worth approximately $117,000. Finally, Regentatlantic Capital LLC bought a new stake in Snap-on during the 3rd quarter worth approximately $209,000.
In other Snap-on news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $140.80, for a total transaction of $3,158,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.
NYSE:SNA opened at $154.65 on Wednesday. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $189.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.31 and a quick ratio of 1.59. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.18 and a beta of 1.32.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.02. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The firm had revenue of $898.10 million during the quarter, compared to the consensus estimate of $928.73 million. During the same quarter in the prior year, the firm posted $2.45 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Snap-on Incorporated will post 11.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th were given a dividend of $0.95 per share. The ex-dividend date was Monday, November 19th. This represents a $3.80 dividend on an annualized basis and a yield of 2.46%. This is an increase from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio is 37.55%.
SNA has been the subject of a number of research reports. Barrington Research reissued a “buy” rating and set a $196.00 target price on shares of Snap-on in a research note on Tuesday, October 16th. Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research note on Thursday, October 4th. Robert W. Baird lowered their target price on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Bank of America initiated coverage on Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 target price for the company. Finally, TheStreet downgraded Snap-on from a “b” rating to a “c+” rating in a research report on Wednesday, December 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Snap-on presently has an average rating of “Buy” and a consensus price target of $190.33.
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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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