Neuberger Berman Group LLC Acquires Shares of 1,670 Snap-On Incorporated (SNA)

Neuberger Berman Group LLC acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,670 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its position in shares of Snap-On by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock valued at $222,000 after buying an additional 23 shares during the last quarter. Commonwealth Bank of Australia boosted its position in shares of Snap-On by 4.4% during the second quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock valued at $171,000 after buying an additional 46 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Snap-On by 3.5% during the second quarter. Synovus Financial Corp now owns 1,548 shares of the company’s stock valued at $247,000 after buying an additional 53 shares during the last quarter. Comerica Bank boosted its position in shares of Snap-On by 0.5% during the second quarter. Comerica Bank now owns 16,826 shares of the company’s stock valued at $2,482,000 after buying an additional 84 shares during the last quarter. Finally, Ffcm LLC boosted its position in shares of Snap-On by 6.4% during the second quarter. Ffcm LLC now owns 1,415 shares of the company’s stock valued at $224,000 after buying an additional 85 shares during the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

Snap-On Incorporated (NYSE:SNA) opened at $176.17 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. Snap-On Incorporated has a 1 year low of $140.83 and a 1 year high of $181.73. The firm has a market capitalization of $10,040.00, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The business had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $889.22 million. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. equities analysts expect that Snap-On Incorporated will post 10.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were given a $0.82 dividend. The ex-dividend date was Thursday, November 16th. This represents a $3.28 annualized dividend and a yield of 1.86%. This is a boost from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s payout ratio is currently 33.71%.

In other Snap-On news, Chairman Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by insiders.

Several brokerages recently issued reports on SNA. B. Riley reaffirmed a “buy” rating and set a $205.00 target price on shares of Snap-On in a research report on Thursday. Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research report on Wednesday, December 20th. Barrington Research raised Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 target price on the stock in a research report on Monday, October 23rd. Jefferies Group reaffirmed a “hold” rating and set a $175.00 target price on shares of Snap-On in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $177.00 target price on shares of Snap-On in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $193.56.

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About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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