Point72 Hong Kong Ltd purchased a new position in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,253 shares of the company’s stock, valued at approximately $212,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SNA. Voya Investment Management LLC raised its holdings in shares of Snap-on by 21.4% in the 3rd quarter. Voya Investment Management LLC now owns 40,882 shares of the company’s stock worth $6,400,000 after buying an additional 7,199 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Snap-on by 6.9% during the third quarter. Pictet Asset Management Ltd. now owns 120,667 shares of the company’s stock worth $18,889,000 after acquiring an additional 7,822 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Snap-on by 0.4% during the third quarter. California State Teachers Retirement System now owns 101,674 shares of the company’s stock valued at $15,916,000 after acquiring an additional 425 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Snap-on by 2.0% during the third quarter. Parametric Portfolio Associates LLC now owns 166,913 shares of the company’s stock valued at $26,128,000 after acquiring an additional 3,231 shares during the period. Finally, Security National Bank of Sioux City Iowa IA boosted its stake in shares of Snap-on by 4.8% in the 3rd quarter. Security National Bank of Sioux City Iowa IA now owns 2,595 shares of the company’s stock valued at $407,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.
In other Snap-on news, SVP Timothy L. Chambers sold 4,320 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $156.54, for a total value of $676,252.80. Following the completion of the sale, the senior vice president now owns 14,056 shares in the company, valued at approximately $2,200,326.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Dudley Lehman sold 422 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $155.20, for a total transaction of $65,494.40. Following the completion of the sale, the director now owns 10,429 shares of the company’s stock, valued at approximately $1,618,580.80. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $3.08 EPS for the quarter, hitting the consensus estimate of $3.08. Snap-on had a return on equity of 20.62% and a net margin of 18.59%. The company had revenue of $955.20 million for the quarter, compared to analysts’ expectations of $965.58 million. During the same quarter in the prior year, the business earned $3.03 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Snap-on Incorporated will post 12.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 24th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.80%. Snap-on’s dividend payout ratio is 35.24%.
Several equities research analysts have recently weighed in on SNA shares. Barrington Research reaffirmed a “buy” rating and issued a $185.00 target price on shares of Snap-on in a report on Friday, February 7th. Robert W. Baird cut their price target on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Longbow Research restated a “hold” rating on shares of Snap-on in a research report on Wednesday. Northcoast Research reaffirmed a “neutral” rating on shares of Snap-on in a research note on Friday, February 7th. Finally, ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Snap-on has a consensus rating of “Hold” and an average price target of $171.60.
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.
Featured Article: What is a CD ladder?
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).
Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.