UBS Asset Management Americas Inc. lowered its stake in Snap-on Incorporated (NYSE:SNA) by 25.6% during the fourth quarter, Holdings Channel reports. The fund owned 653,484 shares of the company’s stock after selling 225,414 shares during the period. UBS Asset Management Americas Inc. owned 1.13% of Snap-on worth $111,923,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC increased its position in Snap-on by 16.7% in the third quarter. Jacobi Capital Management LLC now owns 700 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Snap-on during the fourth quarter valued at approximately $106,000. Van ECK Associates Corp increased its position in Snap-on by 7.5% in the fourth quarter. Van ECK Associates Corp now owns 786 shares of the company’s stock valued at $135,000 after buying an additional 55 shares during the last quarter. Robecosam AG acquired a new position in Snap-on during the third quarter valued at approximately $146,000. Finally, Global X Management Co. LLC increased its position in Snap-on by 104.6% in the third quarter. Global X Management Co. LLC now owns 982 shares of the company’s stock valued at $149,000 after buying an additional 502 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Snap-on Incorporated (NYSE:SNA) opened at 168.67 on Friday. The firm has a market capitalization of $9.78 billion, a P/E ratio of 18.33 and a beta of 1.06. The firm’s 50-day moving average is $170.20 and its 200 day moving average is $165.57. Snap-on Incorporated has a 52-week low of $145.17 and a 52-week high of $181.73.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. The company had revenue of $889.80 million for the quarter, compared to analysts’ expectations of $884.09 million. Snap-on had a net margin of 15.93% and a return on equity of 20.89%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. Equities analysts anticipate that Snap-on Incorporated will post $10.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.68%. Snap-on’s dividend payout ratio is 30.84%.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Wunderlich increased their target price on shares of Snap-on from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd.
In other news, Chairman Nicholas T. Pinchuk sold 20,453 shares of Snap-on stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $172.89, for a total transaction of $3,536,119.17. Following the transaction, the chairman now directly owns 376,762 shares of the company’s stock, valued at $65,138,382.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Aldo John Pagliari sold 1,700 shares of Snap-on stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $171.42, for a total transaction of $291,414.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,820 shares of company stock worth $6,008,666. Insiders own 3.40% of the company’s stock.
Snap-on Company Profile
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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