Snap-On Inc. (SNA) Stake Decreased by Sit Investment Associates Inc.
Sit Investment Associates Inc. cut its stake in Snap-On Inc. (NYSE:SNA) by 37.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 161,870 shares of the company’s stock after selling 98,767 shares during the period. Sit Investment Associates Inc. owned 0.28% of Snap-On worth $25,546,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of SNA. Nisa Investment Advisors L.L.C. boosted its stake in Snap-On by 25.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 4,856 shares of the company’s stock valued at $762,000 after buying an additional 1,000 shares during the last quarter. IFP Advisors Inc boosted its stake in Snap-On by 58.0% in the first quarter. IFP Advisors Inc now owns 1,638 shares of the company’s stock valued at $257,000 after buying an additional 601 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Snap-On during the first quarter valued at $225,000. Rehmann Capital Advisory Group boosted its stake in Snap-On by 3.5% in the first quarter. Rehmann Capital Advisory Group now owns 1,428 shares of the company’s stock valued at $224,000 after buying an additional 48 shares during the last quarter. Finally, FDO Partners LLC purchased a new stake in Snap-On during the first quarter valued at $487,000. 84.72% of the stock is currently owned by institutional investors.
Snap-On Inc. (NYSE:SNA) traded up 0.342% during trading on Wednesday, hitting $150.945. 240,842 shares of the stock traded hands. Snap-On Inc. has a 12 month low of $133.09 and a 12 month high of $174.52. The firm has a market cap of $8.77 billion, a PE ratio of 17.308 and a beta of 1.23. The firm has a 50-day moving average price of $151.55 and a 200 day moving average price of $156.61.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.13. Snap-On had a net margin of 15.28% and a return on equity of 20.78%. The company had revenue of $872.30 million for the quarter, compared to analyst estimates of $876.70 million. During the same period in the prior year, the company posted $2.03 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Snap-On Inc. will post $9.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 17th. Snap-On’s dividend payout ratio (DPR) is currently 27.98%.
SNA has been the topic of several research reports. CL King initiated coverage on Snap-On in a research report on Monday, June 27th. They set a “buy” rating and a $174.00 price objective on the stock. Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $172.00 price objective on the stock in a research report on Wednesday, June 15th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Snap-On presently has an average rating of “Buy” and an average target price of $176.56.
In other Snap-On news, VP Iain Boyd sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $157.97, for a total value of $552,895.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Thomas J. Ward sold 42,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $151.60, for a total transaction of $6,367,200.00. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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