Canada Pension Plan Investment Board boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 42,142.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,914 shares of the company’s stock after purchasing an additional 5,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Snap-On were worth $881,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SNA. State of Alaska Department of Revenue boosted its position in Snap-On by 6.7% during the second quarter. State of Alaska Department of Revenue now owns 1,585 shares of the company’s stock worth $250,000 after purchasing an additional 100 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Snap-On by 508.4% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 9,412 shares of the company’s stock worth $1,487,000 after purchasing an additional 7,865 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Snap-On by 6.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,940 shares of the company’s stock worth $2,203,000 after purchasing an additional 800 shares during the period. LS Investment Advisors LLC boosted its position in Snap-On by 6.2% during the second quarter. LS Investment Advisors LLC now owns 3,062 shares of the company’s stock worth $484,000 after purchasing an additional 180 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Snap-On by 56.0% during the second quarter. Nisa Investment Advisors LLC now owns 15,374 shares of the company’s stock worth $2,443,000 after purchasing an additional 5,518 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.
SNA has been the subject of a number of recent analyst reports. BidaskClub cut Snap-On from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $197.00 target price on shares of Snap-On in a research report on Wednesday, August 2nd. Longbow Research cut Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Zacks Investment Research cut Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, FBR & Co reaffirmed a “buy” rating and set a $205.00 target price on shares of Snap-On in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Snap-On presently has an average rating of “Hold” and a consensus price target of $192.00.
Shares of Snap-On Incorporated (NYSE:SNA) opened at $159.42 on Tuesday. 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 current ratio of 1.75 and a quick ratio of 1.22. The firm has a market capitalization of $8,950.00, a P/E ratio of 15.85, a PEG ratio of 1.46 and a beta of 1.12.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. During the same period in the prior year, the business earned $2.22 earnings per share. Snap-On’s revenue for the quarter was up 8.4% compared to the same quarter last year. sell-side analysts anticipate that Snap-On Incorporated will post 10.09 EPS for the current fiscal year.
Snap-On announced that its board has authorized a stock repurchase plan on Monday, August 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.06%. This is a boost from Snap-On’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 16th. Snap-On’s dividend payout ratio is currently 33.71%.
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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