Daiwa Securities Group Inc. increased its holdings in Snap-On Incorporated (NYSE:SNA) by 77.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,839 shares of the company’s stock after purchasing an additional 1,239 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snap-On were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of SNA. Morgan Dempsey Capital Management LLC increased its stake 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 in the last quarter. Acrospire Investment Management LLC boosted its holdings in Snap-On by 700.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after buying an additional 700 shares during the period. San Francisco Sentry Investment Group CA bought a new position in Snap-On in the 2nd quarter worth $126,000. Lloyds Banking Group plc bought a new position in Snap-On in the 2nd quarter worth $129,000. Finally, Commonwealth Bank of Australia boosted its holdings in Snap-On by 4.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock worth $171,000 after buying an additional 46 shares during the period. 93.81% of the stock is currently owned by institutional investors.
Snap-On Incorporated (NYSE SNA) opened at $156.68 on Wednesday. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73. The company has a market cap of $8,897.11, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The firm had revenue of $903.80 million for the quarter, compared to analysts’ expectations 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 was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 EPS. equities research analysts forecast that Snap-On Incorporated will post 10.09 earnings per share for the current fiscal year.
The firm also recently announced 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 represents a $3.28 annualized dividend and a dividend yield of 2.09%. 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 29.13%.
Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
Several brokerages recently weighed in on SNA. reaffirmed a “buy” rating on shares of Snap-On in a report on Wednesday, November 1st. raised shares of Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 target price for the company in a report on Monday, October 23rd. raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $177.00 target price on shares of Snap-On in a report on Thursday, October 19th. Finally, raised shares of Snap-On from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $192.00.
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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