Horizon Investment Services LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 31.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,416 shares of the company’s stock after buying an additional 1,991 shares during the period. Horizon Investment Services LLC’s holdings in Snap-on were worth $1,467,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Snap-on by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock worth $488,847,000 after buying an additional 270,905 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Snap-on by 13.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after buying an additional 148,037 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Snap-on by 7.9% during the fourth quarter. Bessemer Group Inc. now owns 933,862 shares of the company’s stock worth $162,774,000 after purchasing an additional 68,432 shares during the period. Principal Financial Group Inc. raised its position in shares of Snap-on by 30.7% during the third quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock worth $126,547,000 after purchasing an additional 199,647 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Snap-on by 14.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 792,225 shares of the company’s stock worth $138,086,000 after purchasing an additional 97,613 shares during the period. 99.40% of the stock is currently owned by institutional investors.
In other news, SVP Thomas L. Kassouf sold 96,000 shares of Snap-on stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.40, for a total transaction of $15,398,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 20,680 shares of Snap-on stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The disclosure for this sale can be found here. Insiders have sold 146,355 shares of company stock worth $24,058,960 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.
Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.03. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. The business had revenue of $974.60 million for the quarter, compared to the consensus estimate of $940.50 million. During the same quarter in the previous year, the company posted $2.47 earnings per share. Snap-on’s revenue for the quarter was up 9.5% compared to the same quarter last year. research analysts anticipate that Snap-on Incorporated will post 11.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.07%. Snap-on’s dividend payout ratio is 34.45%.
A number of equities research analysts have recently issued reports on SNA shares. Jefferies Group reaffirmed a “hold” rating and set a $175.00 target price on shares of Snap-on in a research report on Friday, November 3rd. Zacks Investment Research lowered Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. B. Riley reaffirmed a “buy” rating and set a $205.00 target price on shares of Snap-on in a research report on Thursday, January 4th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $220.00 target price (up from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $192.00.
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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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