Fmr LLC Sells 538,820 Shares of Snap-on Incorporated (SNA)

Fmr LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 26.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,520,214 shares of the company’s stock after selling 538,820 shares during the quarter. Fmr LLC owned approximately 2.71% of Snap-on worth $279,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. Piedmont Investment Advisors LLC purchased a new position in Snap-on in the second quarter valued at about $107,000. Flagship Harbor Advisors LLC purchased a new position in Snap-on in the second quarter valued at about $117,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Snap-on by 104.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 670 shares of the company’s stock valued at $123,000 after purchasing an additional 342 shares in the last quarter. Legacy Advisors LLC purchased a new position in Snap-on in the third quarter valued at about $127,000. Finally, Regentatlantic Capital LLC purchased a new position in Snap-on in the third quarter valued at about $209,000.

A number of research analysts have commented on the company. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Thursday, October 4th. Barrington Research restated a “buy” rating and issued a $200.00 target price on shares of Snap-on in a research note on Monday, August 20th. Finally, Robert W. Baird lowered their target price on Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research note 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 company. Snap-on currently has a consensus rating of “Buy” and an average target price of $195.40.

SNA opened at $166.24 on Monday. The stock has a market cap of $9.34 billion, a PE 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. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.30.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.02. The company had revenue of $898.10 million during the quarter, compared to the consensus estimate of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.45 EPS. On average, equities research 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. Stockholders of record on Tuesday, November 20th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, November 19th. This is an increase from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio is 37.55%.

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Snap-on 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.

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

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