Snap-On Inc. (SNA) Position Maintained by Arizona State Retirement System
Arizona State Retirement System continued to hold its stake in Snap-On Inc. (NYSE:SNA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,273 shares of the company’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in Snap-On were worth $2,169,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. increased its stake in Snap-On by 48.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 711 shares of the company’s stock valued at $112,000 after buying an additional 232 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Snap-On by 117.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 776 shares of the company’s stock valued at $122,000 after buying an additional 419 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Snap-On during the first quarter valued at about $184,000. Pacer Advisors Inc. increased its stake in Snap-On by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,164 shares of the company’s stock valued at $184,000 after buying an additional 100 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Snap-On by 6,315.8% in the third quarter. Cornerstone Advisors Inc. now owns 1,219 shares of the company’s stock valued at $185,000 after buying an additional 1,200 shares in the last quarter. 87.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded down 1.29% during trading on Monday, hitting $168.38. The stock had a trading volume of 384,495 shares. The firm has a 50-day moving average of $158.30 and a 200 day moving average of $156.25. The company has a market capitalization of $9.77 billion, a P/E ratio of 18.79 and a beta of 1.08. Snap-On Inc. has a 1-year low of $133.09 and a 1-year high of $174.52.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 20th. The company reported $2.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.07. The business had revenue of $834.10 million for the quarter, compared to analysts’ expectations of $709.70 million. Snap-On had a net margin of 15.67% and a return on equity of 20.73%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Equities research analysts predict that Snap-On Inc. will post $9.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 18th will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.66%. This is a boost from Snap-On’s previous quarterly dividend of $0.61. Snap-On’s dividend payout ratio is 31.70%.
Separately, Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a research note on Wednesday, November 23rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $178.87.
In other Snap-On news, VP Constance Johnsen sold 4,833 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $163.54, for a total transaction of $790,388.82. Following the sale, the vice president now owns 2,698 shares of the company’s stock, valued at $441,230.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 20,544 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $170.10, for a total transaction of $3,494,534.40. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
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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