Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,097 shares of the company’s stock after selling 337 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snap-on were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Man Group plc acquired a new stake in shares of Snap-on during the 3rd quarter worth approximately $6,028,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Snap-on by 3.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 176,604 shares of the company’s stock valued at $32,424,000 after buying an additional 5,533 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Snap-on by 4.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock valued at $21,754,000 after buying an additional 6,034 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in Snap-on in the third quarter valued at approximately $422,000. Finally, Atlas Capital Advisors LLC boosted its position in Snap-on by 1,158.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock valued at $66,000 after buying an additional 417 shares in the last quarter.
A number of analysts have weighed in on SNA shares. TheStreet upgraded shares of Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. Bank of America started coverage on shares of Snap-on in a research report on Friday, December 21st. They issued a “buy” rating and a $165.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. 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 a consensus target price of $190.33.
Shares of Snap-on stock opened at $158.95 on Tuesday. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46. The company has a current ratio of 2.33, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 1.31 and a beta of 1.27.
Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.03. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The firm had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.74 million. During the same quarter last year, the business posted $2.69 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that Snap-on Incorporated will post 12.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 25th were given a $0.95 dividend. The ex-dividend date was Friday, February 22nd. This represents a $3.80 dividend on an annualized basis and a yield of 2.39%. Snap-on’s dividend payout ratio is currently 32.18%.
In other news, Chairman Nicholas T. Pinchuk sold 22,433 shares of Snap-on stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $140.80, for a total transaction of $3,158,566.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Iain Boyd sold 26,500 shares of Snap-on 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 transaction, the vice president now owns 19,038 shares in the company, valued at approximately $3,023,044.02. The disclosure for this sale can be found here. Insiders sold 67,977 shares of company stock worth $10,435,589 in the last 90 days. Company insiders own 3.90% of the company’s stock.
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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. 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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