Kinneret Advisory LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,440 shares of the company’s stock, valued at approximately $209,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Snap-on in the 4th quarter valued at $33,000. Tributary Capital Management LLC bought a new position in Snap-on in the 4th quarter valued at $44,000. Private Capital Group LLC grew its stake in Snap-on by 98.6% in the 4th quarter. Private Capital Group LLC now owns 437 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares during the period. Atlas Capital Advisors LLC grew its stake in Snap-on by 1,158.3% in the 4th quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock valued at $66,000 after purchasing an additional 417 shares during the period. Finally, First Mercantile Trust Co. grew its stake in Snap-on by 39.2% in the 4th quarter. First Mercantile Trust Co. now owns 501 shares of the company’s stock valued at $73,000 after purchasing an additional 141 shares during the period.
A number of research analysts have issued reports on SNA shares. Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet downgraded Snap-on from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th. Finally, Bank of America began coverage on Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $190.33.
SNA stock opened at $156.61 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.91 billion, a PE ratio of 13.26, a PEG ratio of 1.34 and a beta of 1.27. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, hitting the consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.69 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 12.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 25th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, February 22nd. This represents a $3.80 annualized dividend and a dividend yield of 2.43%. Snap-on’s payout ratio is 32.18%.
In other news, SVP Thomas L. Kassouf sold 18,657 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now owns 3,920 shares in the company, valued at approximately $632,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $157.19, for a total value of $60,832.53. Following the transaction, the director now owns 9,996 shares of the company’s stock, valued at approximately $1,571,271.24. The disclosure for this sale can be found here. Insiders have sold a total of 67,977 shares of company stock valued at $10,435,589 in the last quarter. 4.00% of the stock is owned by corporate insiders.
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Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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