Engineers Gate Manager LP Has $830,000 Stake in Snap-On Incorporated (SNA)
Engineers Gate Manager LP lessened its position in Snap-On Incorporated (NYSE:SNA) by 65.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,571 shares of the company’s stock after selling 10,570 shares during the quarter. Engineers Gate Manager LP’s holdings in Snap-On were worth $830,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its holdings in shares of Snap-On by 120.4% in the 3rd quarter. Synovus Financial Corp now owns 3,412 shares of the company’s stock worth $506,000 after acquiring an additional 1,864 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Snap-On by 28.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 143,643 shares of the company’s stock valued at $21,405,000 after buying an additional 32,042 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Snap-On by 2.0% during the 3rd quarter. Mackenzie Financial Corp now owns 408,189 shares of the company’s stock valued at $60,824,000 after buying an additional 8,106 shares in the last quarter. Stifel Financial Corp lifted its holdings in Snap-On by 25.1% during the 3rd quarter. Stifel Financial Corp now owns 95,845 shares of the company’s stock valued at $14,230,000 after buying an additional 19,229 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in Snap-On by 133.1% during the 3rd quarter. Pinebridge Investments L.P. now owns 4,441 shares of the company’s stock valued at $662,000 after buying an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.
Snap-On Incorporated (SNA) traded up $2.81 during midday trading on Friday, reaching $168.31. 178,417 shares of the company’s stock were exchanged, compared to its average volume of 609,580. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73. The stock has a market cap of $9,707.18, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.
Snap-On (NYSE:SNA) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $889.22 million. During the same quarter in the previous year, the firm earned $2.22 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts expect that Snap-On Incorporated will post 10.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were given a $0.82 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s payout ratio is presently 33.64%.
A number of brokerages recently weighed in on SNA. B. Riley reiterated a “buy” rating on shares of Snap-On in a report on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and set a $175.00 price objective on shares of Snap-On in a 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 objective for the company in a report on Monday, October 23rd. Oppenheimer reissued a “buy” rating and set a $177.00 target price on shares of Snap-On in a research report on Thursday, October 19th. Finally, FBR & Co reissued a “buy” rating and set a $205.00 target price on shares of Snap-On in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average 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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