Snap-on Incorporated (SNA) Stake Lowered by New Mexico Educational Retirement Board

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.

COPYRIGHT VIOLATION NOTICE: “Snap-on Incorporated (SNA) Stake Lowered by New Mexico Educational Retirement Board” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/01/09/snap-on-incorporated-sna-stake-lowered-by-new-mexico-educational-retirement-board.html.

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.

Recommended Story: Do investors pay a separate front-end load every time they buy additional shares?

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).

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

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply