Allianz Asset Management GmbH Sells 32,496 Shares of Snap-On Incorporated (SNA)
Allianz Asset Management GmbH trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 21.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,495 shares of the company’s stock after selling 32,496 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.21% of Snap-On worth $17,806,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SNA. Koch Industries Inc. grew its position in Snap-On by 64,484.7% during the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock valued at $912,000 after buying an additional 916,327 shares during the period. Schroder Investment Management Group boosted its position in shares of Snap-On by 59.2% in the second quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after purchasing an additional 422,366 shares during the period. Renaissance Technologies LLC boosted its position in shares of Snap-On by 1,814.9% in the second quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock worth $68,983,000 after purchasing an additional 413,800 shares during the period. Principal Financial Group Inc. boosted its position in shares of Snap-On by 153.0% in the second quarter. Principal Financial Group Inc. now owns 649,609 shares of the company’s stock worth $102,639,000 after purchasing an additional 392,816 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Snap-On by 107.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock worth $103,506,000 after purchasing an additional 359,772 shares during the period. Institutional investors own 99.68% of the company’s stock.
Shares of Snap-On Incorporated (NYSE SNA) traded down $0.55 during trading hours on Wednesday, hitting $170.78. 350,200 shares of the company were exchanged, compared to its average volume of 610,003. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73. The company has a market capitalization of $9,767.04, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The firm had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. During the same quarter in the prior year, the business earned $2.22 earnings per share. Snap-On’s revenue for the quarter was up 8.4% on a year-over-year basis. equities research analysts anticipate that Snap-On Incorporated will post 10.09 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were given a dividend of $0.82 per share. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, November 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.92%. Snap-On’s dividend payout ratio is currently 33.64%.
A number of research firms have weighed in on SNA. B. Riley reiterated a “buy” rating on shares of Snap-On in a research report on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research report on Friday, November 3rd. Barrington Research upgraded shares of Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a research report on Monday, October 23rd. Oppenheimer reiterated a “buy” rating and issued a $177.00 price target on shares of Snap-On in a research report on Thursday, October 19th. Finally, FBR & Co reiterated a “buy” rating and issued a $205.00 price target on shares of Snap-On in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.00.
Snap-On Company Profile
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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