CIBC World Markets Inc. increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 281.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,785 shares of the company’s stock after purchasing an additional 6,483 shares during the quarter. CIBC World Markets Inc.’s holdings in Snap-on were worth $1,613,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Snap-on by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after purchasing an additional 53,689 shares in the last quarter. Earnest Partners LLC increased its position in shares of Snap-on by 3.8% during the 2nd quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after purchasing an additional 37,244 shares in the last quarter. Northern Trust Corp increased its position in shares of Snap-on by 2.1% during the 2nd quarter. Northern Trust Corp now owns 977,655 shares of the company’s stock worth $157,129,000 after purchasing an additional 20,179 shares in the last quarter. Ariel Investments LLC increased its position in shares of Snap-on by 10.0% during the 2nd quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after purchasing an additional 84,287 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Snap-on by 65.8% during the 2nd quarter. Schroder Investment Management Group now owns 770,981 shares of the company’s stock worth $88,263,000 after purchasing an additional 305,933 shares in the last quarter.
SNA opened at $166.24 on Monday. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.30. The stock 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 1-year low of $141.63 and a 1-year high of $189.46.
Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.02. The firm had revenue of $898.10 million during the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 EPS. As a group, equities research analysts forecast that Snap-on Incorporated will post 11.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, November 19th. This is a boost from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio (DPR) is presently 37.55%.
Several equities research analysts have weighed in on SNA shares. Barrington Research restated a “buy” rating and issued a $200.00 price objective on shares of Snap-on in a research report on Monday, August 20th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research report on Thursday, October 4th. Finally, Robert W. Baird lowered their price objective on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $195.40.
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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