Boston Common Asset Management LLC Has $4.31 Million Holdings in Snap-On Incorporated (SNA)
Boston Common Asset Management LLC cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,250 shares of the company’s stock after selling 526 shares during the period. Boston Common Asset Management LLC’s holdings in Snap-On were worth $4,306,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Morgan Dempsey Capital Management LLC boosted its holdings in Snap-On by 63.7% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after purchasing an additional 263 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in shares of Snap-On by 700.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after buying an additional 700 shares during the last quarter. Lloyds Banking Group plc acquired a new stake in shares of Snap-On during the 2nd quarter worth approximately $129,000. Van ECK Associates Corp increased its holdings in shares of Snap-On by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after buying an additional 59 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of Snap-On by 13.8% during the 1st quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after buying an additional 119 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.
Snap-On Incorporated (NYSE:SNA) traded down 0.466% during mid-day trading on Monday, reaching $148.315. 203,211 shares of the company traded hands. The stock has a market capitalization of $8.54 billion, a PE ratio of 15.354 and a beta of 1.05. Snap-On Incorporated has a 52-week low of $140.83 and a 52-week high of $181.73. The stock has a 50-day moving average of $148.41 and a 200 day moving average of $159.16.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The business had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. During the same period last year, the company earned $2.36 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Snap-On Incorporated will post $10.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s dividend payout ratio (DPR) is 29.34%.
Snap-On announced that its board has initiated a share buyback program on Monday, August 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
A number of research analysts recently commented on SNA shares. FBR & Co set a $205.00 price objective on Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. BidaskClub cut Snap-On from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Longbow Research downgraded Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $175.00 target price on shares of Snap-On in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Snap-On currently has a consensus rating of “Hold” and a consensus target price of $197.86.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann M. Gillis purchased 265 shares of the company’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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