Dupont Capital Management Corp Has $7.09 Million Position in Snap-On Incorporated (SNA)
Dupont Capital Management Corp increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 42.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,872 shares of the company’s stock after buying an additional 13,268 shares during the period. Dupont Capital Management Corp’s holdings in Snap-On were worth $7,090,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SNA. Vanguard Group Inc. raised its stake in Snap-On by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,482,405 shares of the company’s stock worth $924,717,000 after buying an additional 158,474 shares during the period. BlackRock Inc. raised its stake in Snap-On by 2,077.9% in the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock worth $613,657,000 after buying an additional 3,471,155 shares during the period. State Street Corp raised its stake in Snap-On by 4.3% in the first quarter. State Street Corp now owns 2,505,691 shares of the company’s stock worth $422,636,000 after buying an additional 102,268 shares during the period. FMR LLC raised its stake in Snap-On by 0.3% in the first quarter. FMR LLC now owns 1,140,188 shares of the company’s stock worth $192,316,000 after buying an additional 3,670 shares during the period. Finally, Wellington Management Group LLP raised its stake in Snap-On by 9.7% in the first quarter. Wellington Management Group LLP now owns 1,001,089 shares of the company’s stock worth $168,853,000 after buying an additional 88,131 shares during the period. Institutional investors and hedge funds own 93.32% of the company’s stock.
Snap-On Incorporated (NYSE:SNA) opened at 153.76 on Tuesday. The firm has a market capitalization of $8.85 billion, a PE ratio of 15.92 and a beta of 1.05. The company has a 50-day moving average price of $154.16 and a 200-day moving average price of $163.86. Snap-On Incorporated has a 12-month low of $145.17 and a 12-month high of $181.73.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $920.87 million. During the same period last year, the company posted $2.36 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.85%. Snap-On’s dividend payout ratio (DPR) is 29.34%.
Snap-On announced that its board has approved a stock buyback program on Monday, August 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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SNA has been the subject of a number of analyst reports. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price target (up from $165.00) on shares of Snap-On in a research report on Sunday, April 23rd. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. FBR & Co restated an “outperform” rating and issued a $205.00 price target on shares of Snap-On in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $200.00 price target on shares of Snap-On in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $197.86.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of Snap-On stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Ann M. Gillis bought 265 shares of the stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.
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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