FDx Advisors Inc. Buys 1,511 Shares of Snap-On Incorporated (SNA)
FDx Advisors Inc. grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,631 shares of the company’s stock after purchasing an additional 1,511 shares during the quarter. FDx Advisors Inc.’s holdings in Snap-On were worth $1,584,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Snap-On by 2.8% during the second quarter. Vanguard Group Inc. now owns 5,634,205 shares of the company’s stock valued at $890,204,000 after purchasing an additional 151,800 shares during the last quarter. BlackRock Inc. grew its holdings in Snap-On by 0.8% in the 2nd quarter. BlackRock Inc. now owns 3,665,849 shares of the company’s stock worth $579,203,000 after buying an additional 27,641 shares in the last quarter. Schroder Investment Management Group grew its holdings in Snap-On by 59.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after buying an additional 422,366 shares in the last quarter. Koch Industries Inc. grew its holdings in Snap-On by 64,484.7% in the 2nd quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after buying an additional 916,327 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Snap-On by 2.8% in the 3rd quarter. Bessemer Group Inc. now owns 865,430 shares of the company’s stock worth $128,959,000 after buying an additional 23,656 shares in the last quarter. 93.81% of the stock is owned by institutional investors.
SNA has been the subject of a number of recent analyst reports. FBR & Co set a $205.00 price objective on Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Zacks Investment Research lowered Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. BidaskClub lowered Snap-On from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $177.00 price objective on shares of Snap-On in a report on Thursday, October 19th. Two analysts have 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. Snap-On has an average rating of “Hold” and a consensus target price of $192.00.
Shares of Snap-On Incorporated (SNA) opened at $156.07 on Tuesday. The firm has a market capitalization of $8,885.71, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. Snap-On Incorporated has a 52-week low of $140.83 and a 52-week high of $181.73.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $903.80 million during the quarter, compared to the consensus estimate of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 earnings per share. equities analysts predict that Snap-On Incorporated will post 10.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.10%. This is an increase from Snap-On’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, November 16th. Snap-On’s dividend payout ratio is 29.13%.
Snap-On announced that its board has authorized a share repurchase program on Monday, August 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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