BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA) by 37.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,114 shares of the company’s stock after selling 11,538 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Snap-on were worth $2,777,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in Snap-on by 330.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 53,395 shares of the company’s stock valued at $9,804,000 after purchasing an additional 40,986 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Snap-on by 2.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,954 shares of the company’s stock valued at $4,214,000 after purchasing an additional 441 shares in the last quarter. LSV Asset Management increased its stake in Snap-on by 16.0% in the 3rd quarter. LSV Asset Management now owns 157,338 shares of the company’s stock valued at $28,887,000 after purchasing an additional 21,715 shares in the last quarter. SG Americas Securities LLC increased its stake in Snap-on by 750.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,666 shares of the company’s stock valued at $2,509,000 after purchasing an additional 12,059 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Snap-on by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 176,604 shares of the company’s stock valued at $32,424,000 after purchasing an additional 5,533 shares in the last quarter.
In other Snap-on news, SVP Thomas L. Kassouf sold 18,657 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now owns 3,920 shares of the company’s stock, valued at $632,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Nicholas T. Pinchuk sold 22,433 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $140.80, for a total value of $3,158,566.40. The disclosure for this sale can be found here. Insiders have sold 67,977 shares of company stock valued at $10,435,589 in the last three months. 4.00% of the stock is currently owned by company insiders.
Snap-on stock opened at $155.68 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.34 and a beta of 1.27. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, hitting the consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. Snap-on’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.69 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 12.33 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 25th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Friday, February 22nd. Snap-on’s payout ratio is 32.18%.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating in a research note on Thursday. Bank of America assumed coverage on Snap-on in a research report on Friday, December 21st. They set a “buy” rating and a $165.00 price target for the company. Finally, TheStreet raised Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Snap-on has a consensus rating of “Hold” and an average target price of $190.33.
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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.
Further Reading: Beta
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