Tredje AP fonden Grows Holdings in Snap-on Incorporated (SNA)
Tredje AP fonden raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 24.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,285 shares of the company’s stock after purchasing an additional 651 shares during the period. Tredje AP fonden’s holdings in Snap-on were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Snap-on by 326.7% in the first quarter. Signaturefd LLC now owns 192 shares of the company’s stock worth $30,000 after purchasing an additional 147 shares during the period. CSat Investment Advisory L.P. raised its stake in Snap-on by 81.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock worth $30,000 after acquiring an additional 92 shares during the last quarter. Riverview Trust Co purchased a new position in Snap-on in the 4th quarter worth $33,000. FTB Advisors Inc. raised its stake in Snap-on by 120.5% in the 1st quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock worth $56,000 after acquiring an additional 200 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Snap-on by 408.9% in the 1st quarter. Quadrant Capital Group LLC now owns 402 shares of the company’s stock worth $60,000 after acquiring an additional 323 shares during the last quarter.
In other news, SVP Thomas J. Ward sold 21,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $169.75, for a total value of $3,564,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $156.68, for a total transaction of $1,846,160.44. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.10. Snap-on had a net margin of 18.64% and a return on equity of 21.66%. The firm had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $933.13 million. During the same period in the previous year, the company earned $2.79 earnings per share. Snap-on’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that Snap-on Incorporated will post 12.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 21st will be given a $0.95 dividend. The ex-dividend date is Monday, May 20th. This represents a $3.80 dividend on an annualized basis and a yield of 2.38%. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.
A number of equities analysts recently commented on SNA shares. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Robert W. Baird downgraded shares of Snap-on from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $186.00 to $160.00 in a research note on Wednesday, April 10th. Bank of America cut shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a research report on Tuesday, April 16th. Finally, Barrington Research set a $185.00 price target on shares of Snap-on and gave the company a “buy” rating in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Snap-on presently has an average rating of “Hold” and a consensus price target of $185.20.
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Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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