CIBC Asset Management Inc lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,239 shares of the company’s stock after selling 96 shares during the quarter. CIBC Asset Management Inc’s holdings in Snap-on were worth $761,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Snap-on in the 4th quarter valued at $33,000. Tributary Capital Management LLC acquired a new stake in shares of Snap-on in the 4th quarter valued at $44,000. Private Capital Group LLC boosted its holdings in shares of 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 in the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, First Mercantile Trust Co. boosted its holdings in shares of 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 in the last quarter.
A number of equities research analysts have weighed in on SNA shares. Bank of America started coverage on Snap-on in a report on Friday, December 21st. They issued a “buy” rating and a $165.00 target price on the stock. TheStreet downgraded Snap-on from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Finally, Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $190.33.
NYSE SNA opened at $155.68 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 2.33. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $189.46. The firm has a market cap of $8.65 billion, a P/E ratio of 13.18, a PEG ratio of 1.34 and a beta of 1.27.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.03. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The company had revenue of $952.50 million for the quarter, compared to the consensus estimate of $968.74 million. During the same quarter last year, the business posted $2.69 EPS. Snap-on’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that Snap-on Incorporated will post 12.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 25th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, February 22nd. Snap-on’s dividend payout ratio (DPR) is 32.18%.
In related news, VP Iain Boyd sold 26,500 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total transaction of $4,207,935.00. Following the sale, the vice president now owns 19,038 shares of the company’s stock, valued at approximately $3,023,044.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $157.19, for a total value of $60,832.53. Following the sale, the director now directly owns 9,996 shares in the company, valued at approximately $1,571,271.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,977 shares of company stock worth $10,435,589. 4.00% of the stock is currently owned by company 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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