Public Employees Retirement Association of Colorado lowered its stake in shares of Snap-On Incorporated (NYSE:SNA) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,205 shares of the company’s stock after selling 24 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Snap-On were worth $1,612,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its position in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock valued at $112,000 after buying an additional 312 shares during the last quarter. Van ECK Associates Corp boosted its position in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock valued at $143,000 after buying an additional 59 shares during the last quarter. IHT Wealth Management LLC boosted its position in Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock valued at $160,000 after buying an additional 119 shares during the last quarter. Global X Management Co. LLC boosted its position in Snap-On by 28.7% in the first quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock valued at $179,000 after buying an additional 237 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Snap-On by 2.9% in the first quarter. Pacer Advisors Inc. now owns 1,185 shares of the company’s stock valued at $200,000 after buying an additional 33 shares during the last quarter. 92.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Snap-On Incorporated (SNA) opened at 152.46 on Friday. The company’s 50-day moving average is $154.18 and its 200 day moving average is $164.25. Snap-On Incorporated has a 12 month low of $145.17 and a 12 month high of $181.73. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.78 and a beta of 1.05.
Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The firm had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. Snap-On’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $2.36 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post $10.09 earnings per share for the current year.
Snap-On declared that its board has initiated a share repurchase program on Monday, August 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, August 16th. Snap-On’s dividend payout ratio is presently 29.34%.
Several research firms have recently weighed in on SNA. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and set a $175.00 price objective on shares of Snap-On in a report on Wednesday, May 31st. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. FBR & Co set a $205.00 price objective on shares of Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Robert W. Baird reissued an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Snap-On presently has an average rating of “Buy” and a consensus price target of $197.86.
In other Snap-On news, Director Ruth Ann M. Gillis purchased 265 shares of Snap-On stock in a transaction on Friday, August 4th. The stock was bought at an average cost of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
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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