M&R Capital Management Inc. cut its holdings in Snap-on Incorporated (NYSE:SNA) by 40.9% during the second quarter, HoldingsChannel.com reports. The firm owned 700 shares of the company’s stock after selling 485 shares during the period. M&R Capital Management Inc.’s holdings in Snap-on were worth $112,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new stake in shares of Snap-on in the second quarter valued at about $107,000. Adviser Investments LLC purchased a new stake in shares of Snap-on in the first quarter valued at about $118,000. Conning Inc. purchased a new stake in shares of Snap-on in the second quarter valued at about $207,000. Seven Eight Capital LP purchased a new stake in shares of Snap-on in the first quarter valued at about $207,000. Finally, Redwood Investment Management LLC purchased a new stake in shares of Snap-on in the first quarter valued at about $211,000.
In other Snap-on news, SVP Anup R. Banerjee sold 35,500 shares of the company’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $172.00, for a total value of $6,106,000.00. Following the sale, the senior vice president now owns 7,293 shares of the company’s stock, valued at $1,254,396. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $153.36, for a total transaction of $6,441,120.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,336 shares of company stock worth $22,597,905. 4.00% of the stock is owned by insiders.
Several brokerages have recently weighed in on SNA. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating and set a $192.00 target price on the stock in a report on Monday, July 23rd. Northcoast Research downgraded shares of Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. Barrington Research reaffirmed a “buy” rating on shares of Snap-on in a report on Monday, July 16th. ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Finally, B. Riley set a $205.00 target price on shares of Snap-on and gave the company a “buy” rating in a report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $190.88.
SNA stock opened at $175.34 on Monday. The stock has a market cap of $9.60 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.40 and a beta of 1.14. Snap-on Incorporated has a 52 week low of $140.83 and a 52 week high of $185.47. The company has a current ratio of 2.33, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 19th. The company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.16. The firm had revenue of $954.60 million for the quarter, compared to the consensus estimate of $952.04 million. Snap-on had a net margin of 16.04% and a return on equity of 21.04%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. equities analysts predict that Snap-on Incorporated will post 11.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, August 16th. Snap-on’s dividend payout ratio is currently 32.41%.
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.
Further Reading: Earnings Per Share
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