Hermes Investment Management Ltd. Has $17.30 Million Position in Snap-On Incorporated (SNA)
Hermes Investment Management Ltd. increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,125 shares of the company’s stock after acquiring an additional 600 shares during the period. Hermes Investment Management Ltd. owned about 0.20% of Snap-On worth $17,304,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC grew its holdings in Snap-On by 63.7% during the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after acquiring an additional 263 shares during the period. Acrospire Investment Management LLC grew its holdings in Snap-On by 700.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after acquiring an additional 700 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in Snap-On during the second quarter worth about $126,000. Lloyds Banking Group plc acquired a new stake in Snap-On during the second quarter worth about $129,000. Finally, IHT Wealth Management LLC grew its holdings in Snap-On by 13.8% during the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after acquiring an additional 119 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Snap-On Incorporated (NYSE:SNA) opened at 161.6835 on Monday. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 16.7374 and a beta of 1.05. Snap-On Incorporated has a one year low of $140.83 and a one year high of $181.73. The firm has a 50-day moving average price of $149.49 and a 200 day moving average price of $156.33.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $903.80 million during the quarter, compared to the consensus estimate of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 EPS. Equities analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.
Snap-On declared that its Board of Directors has initiated a share repurchase program on Monday, August 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
SNA has been the topic of several analyst reports. FBR & Co set a $205.00 target price on Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $177.00 target price on shares of Snap-On in a report on Thursday. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a report on Thursday, July 6th. Finally, Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $193.17.
In other Snap-On news, Director Ruth Ann M. Gillis bought 265 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a filing with the SEC, which is available at this link. 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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