Lenox Wealth Management Inc. lifted its stake in Snap-on Incorporated (NYSE:SNA) by 2.8% in the third quarter, HoldingsChannel reports. The fund owned 4,213 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Snap-on were worth $659,000 at the end of the most recent reporting period.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Several other large investors also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Snap-on by 38.9% in the 3rd quarter. SG Americas Securities LLC now owns 9,998 shares of the company’s stock valued at $1,565,000 after buying an additional 2,802 shares during the period. First Trust Advisors LP increased its stake in Snap-on by 16.5% in the 3rd quarter. First Trust Advisors LP now owns 390,617 shares of the company’s stock valued at $61,147,000 after buying an additional 55,257 shares during the period. Montag & Caldwell LLC increased its stake in Snap-on by 6.8% in the 3rd quarter. Montag & Caldwell LLC now owns 1,531 shares of the company’s stock valued at $240,000 after buying an additional 98 shares during the period. Bartlett & Co. LLC acquired a new position in Snap-on in the 3rd quarter valued at approximately $141,000. Finally, Mackay Shields LLC increased its stake in Snap-on by 4.7% in the 3rd quarter. Mackay Shields LLC now owns 8,771 shares of the company’s stock valued at $1,373,000 after buying an additional 394 shares during the period.
Shares of SNA traded down $0.03 during mid-day trading on Friday, hitting $166.94. 490,836 shares of the company’s stock were exchanged, compared to its average volume of 518,672. The firm has a fifty day moving average of $159.44 and a two-hundred day moving average of $158.51. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $174.00. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.61 and a beta of 1.24. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.30.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $2.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The company had revenue of $901.80 million for the quarter, compared to analyst estimates of $909.23 million. During the same quarter in the prior year, the business posted $2.88 EPS. Snap-on’s quarterly revenue was up .4% on a year-over-year basis. On average, equities analysts predict that Snap-on Incorporated will post 12.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.08 per share. This is a positive change from Snap-on’s previous quarterly dividend of $0.95. This represents a $4.32 annualized dividend and a dividend yield of 2.59%. Snap-on’s dividend payout ratio is 32.18%.
Several research analysts have weighed in on SNA shares. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a research note on Tuesday, July 16th. Oppenheimer set a $180.00 price objective on shares of Snap-on and gave the company a “buy” rating in a research note on Friday, July 19th. Tigress Financial restated a “buy” rating on shares of Snap-on in a research note on Friday, October 25th. Finally, Barrington Research restated a “buy” rating and set a $185.00 price target on shares of Snap-on in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $173.60.
In other news, CEO Nicholas T. Pinchuk sold 19,675 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Iain Boyd sold 777 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $165.00, for a total transaction of $128,205.00. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
Further Reading: What are the benefits of a portfolio tracker?
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).