Sicart Associates LLC Sells 1,500 Shares of Snap-On Incorporated (SNA)
Sicart Associates LLC trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 35.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,700 shares of the company’s stock after selling 1,500 shares during the period. Sicart Associates LLC’s holdings in Snap-On were worth $402,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Morgan Dempsey Capital Management LLC lifted its stake in shares of Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after buying an additional 263 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Snap-On by 700.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after buying an additional 700 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Snap-On in the second quarter worth $126,000. Lloyds Banking Group plc acquired a new stake in shares of Snap-On in the second quarter worth $129,000. Finally, Commonwealth Bank of Australia lifted its stake in shares of Snap-On by 4.4% in the second quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock worth $171,000 after buying an additional 46 shares during the last quarter. 93.81% of the stock is owned by institutional investors.
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A number of analysts have recently weighed in on SNA shares. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $177.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. FBR & Co restated a “buy” rating and issued a $205.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. B. Riley restated a “buy” rating on shares of Snap-On in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research note on Friday, November 3rd. Two equities research 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 an average price target of $192.00.
Snap-On Incorporated (NYSE SNA) traded up $0.08 during trading hours on Tuesday, reaching $156.14. 83,132 shares of the company traded hands, compared to its average volume of 718,818. The firm has a market cap of $8,900.00, a PE ratio of 15.73, a P/E/G ratio of 1.45 and a beta of 1.12. Snap-On Incorporated has a 1 year low of $140.83 and a 1 year 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.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The firm had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 EPS. research analysts forecast that Snap-On Incorporated will post 10.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $0.82 per share. This is a boost from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 16th. Snap-On’s dividend payout ratio is presently 29.19%.
Snap-On declared that its board has approved a stock buyback plan on Monday, August 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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