Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Snap-on Incorporated (NYSE:SNA) by 7.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,110 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Snap-on were worth $1,303,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Swiss National Bank grew its position in shares of Snap-on by 2.1% during the 2nd quarter. Swiss National Bank now owns 187,600 shares of the company’s stock valued at $30,151,000 after buying an additional 3,800 shares during the last quarter. Tredje AP fonden grew its position in shares of Snap-on by 1,066.1% during the 2nd quarter. Tredje AP fonden now owns 27,869 shares of the company’s stock valued at $4,479,000 after buying an additional 25,479 shares during the last quarter. US Bancorp DE grew its position in shares of Snap-on by 6.9% during the 2nd quarter. US Bancorp DE now owns 65,894 shares of the company’s stock valued at $10,591,000 after buying an additional 4,249 shares during the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Snap-on during the 2nd quarter valued at about $219,000. Finally, American International Group Inc. grew its position in shares of Snap-on by 346.3% during the 2nd quarter. American International Group Inc. now owns 96,377 shares of the company’s stock valued at $15,490,000 after buying an additional 74,782 shares during the last quarter.
In related news, SVP Thomas J. Ward sold 42,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $153.36, for a total transaction of $6,441,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Aldo John Pagliari sold 6,480 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total transaction of $1,152,727.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,816 shares of company stock valued at $23,750,632. 4.00% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on SNA shares. B. Riley set a $205.00 price objective on shares of Snap-on and gave the company a “buy” rating in a research report on Tuesday, July 17th. ValuEngine downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Northcoast Research downgraded shares of Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating and set a $192.00 price objective for the company in a research report on Monday, July 23rd. Finally, Barrington Research restated a “buy” rating and issued a $200.00 target price on shares of Snap-on in a research report on Monday, August 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $192.75.
NYSE SNA opened at $179.02 on Thursday. Snap-on Incorporated has a 52 week low of $141.63 and a 52 week high of $185.47. The company has a quick ratio of 1.60, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.45 and a beta of 1.14.
Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 19th. The company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.95 by $0.16. Snap-on had a net margin of 16.04% and a return on equity of 21.04%. The firm had revenue of $954.60 million during the quarter, compared to analysts’ expectations of $952.04 million. During the same quarter in the prior year, the firm earned $2.60 EPS. Snap-on’s quarterly revenue was up 3.6% on a year-over-year basis. equities analysts expect that Snap-on Incorporated will post 11.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, August 16th. Snap-on’s dividend payout ratio (DPR) is 32.41%.
Snap-on Company Profile
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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