Jones Financial Companies Lllp Buys Shares of 1,704 Snap-on Incorporated (SNA)
Jones Financial Companies Lllp bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,704 shares of the company’s stock, valued at approximately $297,000.
A number of other large investors have also recently added to or reduced their stakes in SNA. Amica Retiree Medical Trust acquired a new stake in Snap-on during the 3rd quarter valued at approximately $165,000. Glenview State Bank Trust DEPT. acquired a new stake in Snap-on during the 4th quarter valued at approximately $206,000. Visionary Asset Management Inc. acquired a new stake in Snap-on during the 3rd quarter valued at approximately $215,000. Wasatch Advisors Inc. acquired a new stake in Snap-on during the 3rd quarter valued at approximately $224,000. Finally, Conning Inc. acquired a new stake in Snap-on during the 4th quarter valued at approximately $230,000. 99.40% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Nicholas T. Pinchuk sold 20,680 shares of Snap-on stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of Snap-on stock in a transaction on Monday, February 12th. The shares were sold at an average price of $160.60, for a total transaction of $62,152.20. Following the completion of the sale, the director now directly owns 8,376 shares of the company’s stock, valued at approximately $1,345,185.60. The disclosure for this sale can be found here. In the last three months, insiders sold 146,355 shares of company stock valued at $24,058,960. 3.70% of the stock is currently owned by insiders.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.03. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The business had revenue of $974.60 million during the quarter, compared to the consensus estimate of $940.50 million. During the same quarter last year, the firm posted $2.47 EPS. Snap-on’s revenue was up 9.5% compared to the same quarter last year. research analysts expect that Snap-on Incorporated will post 11.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 1st. Snap-on’s payout ratio is currently 34.45%.
A number of analysts have weighed in on SNA shares. Zacks Investment Research downgraded shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. B. Riley reaffirmed a “buy” rating and set a $205.00 price objective on shares of Snap-on in a research report on Thursday, January 4th. Robert W. Baird reaffirmed a “buy” rating and set a $220.00 price objective (up previously from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Barrington Research reaffirmed a “buy” rating on shares of Snap-on in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $192.00.
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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