Snap-on (SNA) Position Lessened by Glenmede Trust Co. NA
Glenmede Trust Co. NA decreased its position in shares of Snap-on (NYSE:SNA) by 71.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 80,071 shares of the company’s stock after selling 203,046 shares during the quarter. Glenmede Trust Co. NA’s holdings in Snap-on were worth $13,954,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SNA. Sei Investments Co. increased its position in Snap-on by 15.5% during the third quarter. Sei Investments Co. now owns 26,791 shares of the company’s stock worth $3,993,000 after purchasing an additional 3,591 shares during the last quarter. New York State Common Retirement Fund increased its position in Snap-on by 1.8% during the third quarter. New York State Common Retirement Fund now owns 391,550 shares of the company’s stock worth $58,345,000 after purchasing an additional 6,810 shares during the last quarter. Toronto Dominion Bank increased its position in Snap-on by 11.3% during the third quarter. Toronto Dominion Bank now owns 21,858 shares of the company’s stock worth $3,257,000 after purchasing an additional 2,227 shares during the last quarter. Rhumbline Advisers increased its position in Snap-on by 1.5% during the third quarter. Rhumbline Advisers now owns 119,599 shares of the company’s stock worth $17,821,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Comerica Bank increased its position in Snap-on by 2.8% during the third quarter. Comerica Bank now owns 17,304 shares of the company’s stock worth $2,718,000 after purchasing an additional 478 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on SNA shares. Zacks Investment Research lowered shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. B. Riley reaffirmed a “buy” rating and set a $205.00 price target on shares of Snap-on in a research report on Thursday, January 4th. Robert W. Baird reaffirmed a “buy” rating and set a $220.00 price target (up previously from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Barrington Research reissued a “buy” rating on shares of Snap-on in a research report on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Snap-on has an average rating of “Buy” and an average price target of $192.00.
Shares of Snap-on stock opened at $151.70 on Thursday. Snap-on has a 52-week low of $140.83 and a 52-week high of $185.47. The stock has a market cap of $8,552.97, a price-to-earnings ratio of 14.89, a PEG ratio of 1.27 and a beta of 1.12. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 0.25.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.03. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The company had revenue of $974.60 million during the quarter, compared to analyst estimates of $940.50 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. research analysts forecast that Snap-on will post 11.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, March 1st. Snap-on’s payout ratio is 34.45%.
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Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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