Bank of The West trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 12.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,680 shares of the company’s stock after selling 364 shares during the period. Bank of The West’s holdings in Snap-on were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Concord Wealth Partners bought a new position in Snap-on during the first quarter valued at about $27,000. Parkside Financial Bank & Trust raised its holdings in Snap-on by 76.3% during the first quarter. Parkside Financial Bank & Trust now owns 164 shares of the company’s stock valued at $38,000 after buying an additional 71 shares in the last quarter. WASHINGTON TRUST Co raised its holdings in Snap-on by 33.3% during the second quarter. WASHINGTON TRUST Co now owns 200 shares of the company’s stock valued at $45,000 after buying an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Snap-on during the first quarter valued at about $52,000. Finally, First Command Bank increased its stake in shares of Snap-on by 112.9% in the second quarter. First Command Bank now owns 281 shares of the company’s stock worth $63,000 after purchasing an additional 149 shares during the period. Institutional investors own 86.60% of the company’s stock.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,492 shares of Snap-on stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $227.29, for a total transaction of $5,566,786.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by insiders.
Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 22nd. The company reported $3.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.58. Snap-on had a return on equity of 20.51% and a net margin of 19.15%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $976.23 million. During the same period last year, the business earned $1.91 earnings per share. The firm’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, equities research analysts anticipate that Snap-on Incorporated will post 14.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 20th were issued a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, August 19th. Snap-on’s payout ratio is 42.30%.
SNA has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “hold” rating and issued a $240.00 price objective on shares of Snap-on in a research note on Thursday, July 29th. Zacks Investment Research lowered Snap-on from a “buy” rating to a “hold” rating and set a $232.00 price objective on the stock. in a research note on Thursday, June 24th. Finally, Bank of America lowered Snap-on from a “neutral” rating to an “underperform” rating and set a $240.00 price objective on the stock. in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average target price of $210.17.
Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.
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