Baird Financial Group Inc. lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 9.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,578 shares of the company’s stock after buying an additional 4,863 shares during the quarter. Baird Financial Group Inc. owned approximately 0.10% of Snap-on worth $10,773,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Snap-on during the 2nd quarter valued at $107,000. Flagship Harbor Advisors LLC bought a new stake in Snap-on in the 2nd quarter valued at $117,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Snap-on by 104.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 670 shares of the company’s stock valued at $123,000 after acquiring an additional 342 shares during the last quarter. Legacy Advisors LLC bought a new stake in Snap-on in the 3rd quarter valued at $127,000. Finally, Regentatlantic Capital LLC bought a new stake in Snap-on in the 3rd quarter valued at $209,000.
Shares of NYSE SNA opened at $166.24 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.59 and a current ratio of 2.31. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.36 and a beta of 1.29. Snap-on Incorporated has a 52-week low of $141.63 and a 52-week high of $189.46.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.02. The company had revenue of $898.10 million for the quarter, compared to the consensus estimate of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. Snap-on’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 11.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th will be issued a $0.95 dividend. This is an increase from Snap-on’s previous quarterly dividend of $0.82. This represents a $3.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, November 19th. Snap-on’s payout ratio is currently 37.55%.
A number of analysts have issued reports on SNA shares. Barrington Research reiterated a “buy” rating and issued a $200.00 price target on shares of Snap-on in a report on Monday, August 20th. Zacks Investment Research downgraded shares of Snap-on from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $195.40.
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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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