Commerce Bank decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 27.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,645 shares of the company’s stock after selling 1,025 shares during the quarter. Commerce Bank’s holdings in Snap-On were worth $394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC raised 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 worth $107,000 after purchasing an additional 263 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in Snap-On in the 2nd quarter worth about $126,000. Acrospire Investment Management LLC raised its holdings in Snap-On by 700.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after purchasing an additional 700 shares during the period. Lloyds Banking Group plc acquired a new position in Snap-On in the 2nd quarter worth about $129,000. Finally, Commonwealth Bank of Australia raised its holdings in Snap-On by 4.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock worth $171,000 after purchasing an additional 46 shares during the period. 98.76% of the stock is owned by institutional investors.

Shares of Snap-On Incorporated (NYSE SNA) opened at $161.12 on Wednesday. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9,088.09, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.48 and a beta of 1.12.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 earnings per share. equities analysts anticipate that Snap-On Incorporated will post 10.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.82 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.04%. Snap-On’s dividend payout ratio is 33.64%.

Snap-On announced that its board has initiated a share repurchase plan on Monday, August 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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A number of research firms recently weighed in on SNA. B. Riley reaffirmed a “buy” rating on shares of Snap-On in a report on Wednesday, November 1st. Barrington Research upgraded Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price objective for the company in a research note on Monday, October 23rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $177.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Snap-On currently has an average rating of “Hold” and a consensus price target of $192.00.

Snap-On 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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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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