Thomas White International Ltd. boosted its position in shares of Snap-on (NYSE:SNA) by 45.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,350 shares of the company’s stock after acquiring an additional 1,350 shares during the period. Thomas White International Ltd.’s holdings in Snap-on were worth $642,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in Snap-on during the 4th quarter worth approximately $146,000. Redwood Investment Management LLC bought a new stake in Snap-on during the 1st quarter worth approximately $211,000. D.B. Root & Company LLC bought a new stake in Snap-on during the 4th quarter worth approximately $229,000. Conning Inc. bought a new stake in Snap-on during the 4th quarter worth approximately $230,000. Finally, Fort Point Capital Partners LLC bought a new stake in Snap-on during the 4th quarter worth approximately $237,000. Institutional investors own 99.40% of the company’s stock.
Shares of SNA opened at $151.23 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.28 and a debt-to-equity ratio of 0.31. Snap-on has a 1 year low of $140.83 and a 1 year high of $185.47. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.26 and a beta of 1.16.
Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 19th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.06. Snap-on had a net margin of 15.50% and a return on equity of 20.63%. The business had revenue of $935.50 million during the quarter, compared to analyst estimates of $926.52 million. During the same period last year, the firm posted $2.39 EPS. The company’s revenue was up 5.5% on a year-over-year basis. analysts forecast that Snap-on will post 11.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, May 18th. Snap-on’s dividend payout ratio (DPR) is currently 32.41%.
In other Snap-on news, SVP Thomas L. Kassouf sold 96,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.40, for a total transaction of $15,398,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.
A number of equities research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. B. Riley set a $205.00 target price on shares of Snap-on and gave the stock a “buy” rating in a research note on Thursday, February 8th. Barrington Research restated a “buy” rating on shares of Snap-on in a research note on Monday, April 16th. Zacks Investment Research cut shares of Snap-on from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Finally, Northcoast Research set a $178.00 target price on shares of Snap-on and gave the stock a “buy” rating in a research note on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $189.13.
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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