Snap-On Incorporated (SNA) Shares Bought by Bristol Gate Capital Partners Inc.
Bristol Gate Capital Partners Inc. lifted its holdings in Snap-On Incorporated (NYSE:SNA) by 11.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,855 shares of the company’s stock after purchasing an additional 20,846 shares during the quarter. Snap-On accounts for approximately 4.7% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 13th largest position. Bristol Gate Capital Partners Inc. owned 0.37% of Snap-On worth $31,270,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SNA. Morgan Dempsey Capital Management LLC grew its holdings 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 valued at $107,000 after purchasing an additional 263 shares in the last quarter. Acrospire Investment Management LLC grew its holdings 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 valued at $126,000 after purchasing an additional 700 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of Snap-On in the second quarter valued at $126,000. Lloyds Banking Group plc purchased a new position in shares of Snap-On in the second quarter valued at $129,000. Finally, Commonwealth Bank of Australia grew its holdings 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 valued at $171,000 after purchasing an additional 46 shares in the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Snap-On Incorporated (SNA) traded up $0.20 on Tuesday, reaching $156.07. The company had a trading volume of 388,400 shares, compared to its average volume of 622,868. The company has a market capitalization of $8,900.00, a P/E ratio of 15.73, a PEG ratio of 1.45 and a beta of 1.12. Snap-On Incorporated has a 12 month low of $140.83 and a 12 month high of $181.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75.
Snap-On (NYSE:SNA) last issued its quarterly earnings results 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. The company 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%. Snap-On’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.22 earnings per share. sell-side analysts anticipate that Snap-On Incorporated will post 10.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a $0.82 dividend. The ex-dividend date is Thursday, November 16th. This is an increase from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 2.10%. Snap-On’s dividend payout ratio (DPR) is currently 29.19%.
Snap-On announced that its Board of Directors has initiated a share repurchase program on Monday, August 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts recently weighed in on SNA shares. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $177.00 target price on shares of Snap-On in a report on Thursday, October 19th. FBR & Co reissued a “buy” rating and issued a $205.00 target price on shares of Snap-On in a report on Thursday, October 19th. B. Riley reissued a “buy” rating on shares of Snap-On in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $175.00 target price on shares of Snap-On in a report on Friday, November 3rd. Two 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.00.
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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