Sphera Funds Management LTD. Buys 20,300 Shares of Snap-on Incorporated (SNA)

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Sphera Funds Management LTD. boosted its stake in Snap-on Incorporated (NYSE:SNA) by 1,486.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,666 shares of the company’s stock after purchasing an additional 20,300 shares during the period. Sphera Funds Management LTD.’s holdings in Snap-on were worth $3,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. boosted its position in Snap-on by 2.0% during the second quarter. Baird Financial Group Inc. now owns 53,715 shares of the company’s stock valued at $8,630,000 after acquiring an additional 1,046 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Snap-on by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 59,533 shares of the company’s stock valued at $9,567,000 after acquiring an additional 1,334 shares during the last quarter. Schroder Investment Management Group boosted its position in Snap-on by 7.1% during the second quarter. Schroder Investment Management Group now owns 497,887 shares of the company’s stock valued at $80,657,000 after acquiring an additional 32,839 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Snap-on by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock valued at $4,943,000 after acquiring an additional 676 shares during the last quarter. Finally, Keel Point LLC bought a new stake in Snap-on during the third quarter valued at $221,000.

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

SNA stock opened at $151.00 on Friday. The stock has a market cap of $8.76 billion, a PE ratio of 14.92, a P/E/G ratio of 1.28 and a beta of 1.31. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a 1 year low of $141.63 and a 1 year high of $189.46.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 18th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.02. The company had revenue of $898.10 million for the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. As a group, sell-side analysts expect that Snap-on Incorporated will post 11.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, November 19th. This is a boost from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio is 37.55%.

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About Snap-on

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.

Further Reading: Coverage Ratio

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

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