Laurel Wealth Advisors LLC decreased its stake in Snap-on Incorporated (NYSE:SNA) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,484 shares of the company’s stock after selling 784 shares during the period. Laurel Wealth Advisors LLC’s holdings in Snap-on were worth $743,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SNA. KCL Capital L.P. bought a new position in shares of Snap-on in the 1st quarter worth $12,122,000. BlackRock Inc. increased its holdings in shares of Snap-on by 21.0% in the 1st quarter. BlackRock Inc. now owns 5,476,063 shares of the company’s stock worth $857,113,000 after buying an additional 950,400 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Snap-on by 488.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 146,465 shares of the company’s stock worth $26,191,000 after buying an additional 121,573 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Snap-on in the 1st quarter valued at $18,485,000. Finally, Investec Asset Management LTD boosted its stake in shares of Snap-on by 16.5% in the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock valued at $116,603,000 after purchasing an additional 99,944 shares in the last quarter.
A number of equities research analysts have recently issued reports on the stock. Northcoast Research reaffirmed a “neutral” rating on shares of Snap-on in a research note on Friday, May 17th. Robert W. Baird set a $164.00 price objective on shares of Snap-on and gave the company a “hold” rating in a research note on Friday, July 19th. Oppenheimer set a $180.00 price objective on shares of Snap-on and gave the company a “buy” rating in a research note on Friday, July 19th. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a report on Wednesday, July 24th. Finally, ValuEngine downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Snap-on has an average rating of “Hold” and a consensus price target of $172.60.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $3.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.21 by $0.01. The firm had revenue of $951.30 million for the quarter, compared to the consensus estimate of $959.33 million. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.11 earnings per share. On average, equities research analysts anticipate that Snap-on Incorporated will post 12.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.80 annualized dividend and a yield of 2.62%. Snap-on’s payout ratio is currently 32.18%.
In other Snap-on news, SVP Anup R. Banerjee sold 2,800 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.40, for a total transaction of $421,120.00. Following the completion of the sale, the senior vice president now directly owns 128 shares in the company, valued at $19,251.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 19,403 shares of the company’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total value of $3,193,733.80. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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