Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Snap-On Incorporated (NYSE:SNA) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,040 shares of the company’s stock after acquiring an additional 710 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Snap-On were worth $1,347,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Snap-On by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,634,205 shares of the company’s stock valued at $890,204,000 after acquiring an additional 151,800 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Snap-On by 0.8% in the 2nd quarter. BlackRock Inc. now owns 3,665,849 shares of the company’s stock valued at $579,203,000 after acquiring an additional 27,641 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Snap-On by 59.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock valued at $177,850,000 after acquiring an additional 422,366 shares during the last quarter. Koch Industries Inc. lifted its stake in shares of Snap-On by 64,484.7% in the 2nd quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock valued at $912,000 after acquiring an additional 916,327 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Snap-On by 29.4% in the 2nd quarter. Bessemer Group Inc. now owns 841,774 shares of the company’s stock valued at $133,000,000 after acquiring an additional 191,388 shares during the last quarter. 93.81% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating on shares of Snap-On in a research note on Wednesday, November 1st. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 target price on shares of Snap-On in a research note on Friday, November 3rd. Robert W. Baird reissued an “outperform” rating and issued a $197.00 target price on shares of Snap-On in a research note on Wednesday, August 2nd. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Snap-On currently has a consensus rating of “Hold” and a consensus price target of $192.00.
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Snap-On Incorporated (NYSE:SNA) opened at $156.07 on Tuesday. Snap-On Incorporated has a twelve month low of $140.83 and a twelve month high of $181.73. The stock has a market capitalization of $8,885.71, a PE ratio of 15.73, a P/E/G 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 quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company had revenue of $903.80 million for the quarter, compared to the consensus estimate of $889.22 million. During the same quarter in the previous year, the business earned $2.22 EPS. Snap-On’s revenue was up 8.4% compared to the same quarter last year. equities analysts forecast that Snap-On Incorporated will post 10.09 earnings per share for the current year.
Snap-On declared that its Board of Directors has initiated a share 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 reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, November 16th. This is an increase from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s payout ratio is currently 29.13%.
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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