Great West Life Assurance Co. Can decreased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,183 shares of the company’s stock after selling 4,326 shares during the quarter. Great West Life Assurance Co. Can owned about 0.09% of Snap-on worth $8,855,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in Snap-on during the second quarter valued at $107,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Snap-on by 104.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 670 shares of the company’s stock valued at $123,000 after buying an additional 342 shares during the last quarter. Legacy Advisors LLC purchased a new position in shares of Snap-on in the third quarter worth $127,000. Flagship Harbor Advisors LLC purchased a new position in shares of Snap-on in the second quarter worth $117,000. Finally, Regentatlantic Capital LLC purchased a new position in shares of Snap-on in the third quarter worth $209,000.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $208.00 price target for the company in a research note on Thursday, October 4th. Barrington Research restated a “buy” rating and issued a $200.00 price target on shares of Snap-on in a research note on Monday, August 20th. Finally, Robert W. Baird decreased their price target on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research note 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 an average price target of $195.40.
Snap-on stock opened at $151.00 on Friday. The firm has a market cap of $8.79 billion, a P/E ratio of 14.92, a PEG ratio of 1.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.31 and a quick ratio of 1.59. Snap-on Incorporated has a one year low of $141.63 and a one year high of $189.46.
Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 18th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.02. The company had revenue of $898.10 million during the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. Snap-on’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 11.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 20th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.52%. 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 is 37.55%.
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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