Susquehanna Fundamental Investments LLC cut its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 95.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 828 shares of the company's stock after selling 17,609 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Snap-on were worth $216,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. Earnest Partners LLC grew its holdings in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock worth $246,424,000 after acquiring an additional 13,033 shares during the period. Nordea Investment Management AB raised its holdings in shares of Snap-on by 3.2% in the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company's stock worth $265,217,000 after purchasing an additional 27,429 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock valued at $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Snap-on by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company's stock worth $213,686,000 after buying an additional 65,485 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company's stock valued at $218,203,000 after buying an additional 16,972 shares in the last quarter. Institutional investors own 84.88% of the company's stock.
Several equities research analysts have recently weighed in on the company. Roth Mkm reissued a "buy" rating and set a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird dropped their price target on Snap-on from $282.00 to $275.00 and set a "neutral" rating on the stock in a research note on Friday, July 12th. Barrington Research reaffirmed an "outperform" rating and set a $325.00 price objective on shares of Snap-on in a research note on Friday, September 20th. Finally, Tigress Financial reissued a "buy" rating and issued a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Snap-on has a consensus rating of "Moderate Buy" and an average target price of $315.00.
Get Our Latest Analysis on Snap-on
In related news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company's stock, valued at approximately $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares of the company's stock, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by insiders.
NYSE:SNA opened at $286.74 on Friday. The business's fifty day moving average price is $279.91 and its 200 day moving average price is $276.45. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 2.00 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49.
Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.89 EPS. On average, sell-side analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.
Snap-on announced that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on's dividend payout ratio is currently 39.03%.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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