Dimensional Fund Advisors LP boosted its position in Snap-On Incorporated (NYSE:SNA) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,173 shares of the company’s stock after buying an additional 28,259 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.55% of Snap-On worth $49,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in shares of Snap-On by 7.4% in the second quarter. Royce & Associates LP now owns 36,500 shares of the company’s stock worth $5,767,000 after acquiring an additional 2,500 shares during the period. Blair William & Co. IL boosted its holdings in shares of Snap-On by 6.5% in the second quarter. Blair William & Co. IL now owns 38,580 shares of the company’s stock worth $6,096,000 after acquiring an additional 2,366 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Snap-On by 20.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,930 shares of the company’s stock worth $2,359,000 after acquiring an additional 2,561 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Snap-On by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 257,225 shares of the company’s stock worth $40,642,000 after acquiring an additional 9,614 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Snap-On by 5.2% in the second quarter. KBC Group NV now owns 62,268 shares of the company’s stock worth $9,838,000 after acquiring an additional 3,060 shares during the period. 93.13% of the stock is owned by institutional investors and hedge funds.
In other news, VP Iain Boyd sold 18,418 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $147.54, for a total value of $2,717,391.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Ann M. Gillis acquired 265 shares of Snap-On stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.
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A number of equities analysts have recently commented on the company. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. FBR & Co set a $205.00 price target on Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price target on shares of Snap-On in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $177.00 price target on shares of Snap-On in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $193.17.
Snap-On Incorporated (SNA) opened at 160.12 on Friday. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73. The stock has a 50 day moving average price of $149.49 and a 200-day moving average price of $156.33. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 16.58 and a beta of 1.05.
Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping the consensus estimate 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 return on equity of 20.82% and a net margin of 15.95%. Snap-On’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 EPS. Equities analysts predict that Snap-On Incorporated will post $10.09 EPS for the current fiscal year.
Snap-On announced that its board has approved a stock repurchase program on Monday, August 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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