Snap-on Incorporated (SNA) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. reduced its position in Snap-on Incorporated (NYSE:SNA) by 70.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the company’s stock after selling 3,500 shares during the period. Icon Advisers Inc. Co.’s holdings in Snap-on were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SNA. BlackRock Inc. raised its holdings in Snap-on by 1.4% in the 2nd quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock valued at $619,621,000 after acquiring an additional 53,689 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Snap-on by 3.4% during the first quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after purchasing an additional 34,012 shares during the period. Earnest Partners LLC grew its holdings in Snap-on by 3.8% during the second quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after purchasing an additional 37,244 shares during the period. Northern Trust Corp grew its holdings in Snap-on by 2.1% during the second quarter. Northern Trust Corp now owns 977,655 shares of the company’s stock worth $157,129,000 after purchasing an additional 20,179 shares during the period. Finally, Ariel Investments LLC grew its holdings in Snap-on by 10.0% during the second quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after purchasing an additional 84,287 shares during the period.

Shares of NYSE:SNA traded down $1.95 during trading on Monday, reaching $164.29. 678,000 shares of the stock were exchanged, compared to its average volume of 660,714. Snap-on Incorporated has a 12 month low of $141.63 and a 12 month high of $189.46. The stock has a market cap of $9.34 billion, a PE ratio of 16.25, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.30.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.80 dividend on an annualized basis and a yield of 2.31%. This is a boost from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s dividend payout ratio is 37.55%.

A number of equities analysts recently commented on SNA shares. Barrington Research reiterated a “buy” rating and set a $200.00 price target 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 price objective for the company in a report on Thursday, October 4th. Finally, Robert W. Baird reduced their price objective on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $195.40.

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Snap-on 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.

See Also: Dividend

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

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