Swiss National Bank Sells 6,900 Shares of Snap-on Incorporated (SNA)

Swiss National Bank reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,700 shares of the company’s stock after selling 6,900 shares during the period. Swiss National Bank owned about 0.32% of Snap-on worth $33,177,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in shares of Snap-on during the second quarter worth about $107,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Snap-on by 104.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 670 shares of the company’s stock worth $123,000 after acquiring an additional 342 shares in the last quarter. Legacy Advisors LLC bought a new stake in Snap-on during the third quarter worth about $127,000. Flagship Harbor Advisors LLC bought a new stake in Snap-on during the second quarter worth about $117,000. Finally, Regentatlantic Capital LLC bought a new stake in Snap-on during the third quarter worth about $209,000.

SNA opened at $161.00 on Friday. Snap-on Incorporated has a 52-week low of $141.63 and a 52-week high of $189.46. The stock has a market cap of $9.04 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.32 and a beta of 1.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.59 and a current ratio of 2.31.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.02. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. The business had revenue of $898.10 million for the quarter, compared to analyst estimates of $928.73 million. During the same quarter in the prior year, the company posted $2.45 earnings per share. Snap-on’s revenue was down .6% on a year-over-year basis. Equities research analysts predict that Snap-on Incorporated will post 11.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 20th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, November 19th. This is a positive change from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio is presently 37.55%.

Several analysts recently issued reports on SNA shares. Barrington Research reiterated a “buy” rating and set a $200.00 target price on shares of Snap-on in a report on Monday, August 20th. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a report on Thursday, October 4th. Finally, Robert W. Baird dropped their target price on Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $195.40.

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Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

Read More: What is Considered a Good Return on Equity (ROE)?

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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