TD Asset Management Inc. Lowers Position in Snap-On Incorporated (SNA)

TD Asset Management Inc. lessened its stake in Snap-On Incorporated (NYSE:SNA) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,368 shares of the company’s stock after selling 6,440 shares during the quarter. TD Asset Management Inc. owned approximately 0.06% of Snap-On worth $5,419,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC raised its holdings in shares of Snap-On by 63.7% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after purchasing an additional 263 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in Snap-On in the 2nd quarter valued at approximately $126,000. Acrospire Investment Management LLC grew its stake in Snap-On by 700.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $126,000 after buying an additional 700 shares in the last quarter. Lloyds Banking Group plc purchased a new position in Snap-On in the 2nd quarter valued at approximately $129,000. Finally, Commonwealth Bank of Australia grew its stake in Snap-On by 4.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock valued at $171,000 after buying an additional 46 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors.

SNA has been the subject of a number of recent research reports. BidaskClub lowered shares of Snap-On from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Longbow Research lowered shares of Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. FBR & Co reiterated a “buy” rating and issued a $205.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. Jefferies Group reiterated a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $192.00.

Snap-On Incorporated (NYSE:SNA) traded down $2.15 on Wednesday, hitting $171.17. 418,100 shares of the stock were exchanged, compared to its average volume of 613,811. The stock has a market cap of $9,880.49, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.22 EPS. research analysts forecast that Snap-On Incorporated will post 10.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $0.82 per share. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 16th. Snap-On’s payout ratio is 33.64%.

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About Snap-On

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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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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