Krane Funds Advisors LLC Lowers Holdings in Snap-on Incorporated (NYSE:SNA)

Krane Funds Advisors LLC trimmed its holdings in Snap-on Incorporated (NYSE:SNAGet Rating) by 49.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,059 shares of the company’s stock after selling 1,989 shares during the period. Krane Funds Advisors LLC’s holdings in Snap-on were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNA. Moors & Cabot Inc. purchased a new position in Snap-on in the third quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in Snap-on during the fourth quarter worth $31,000. Northwest Investment Counselors LLC acquired a new position in Snap-on during the fourth quarter worth $32,000. First Horizon Advisors Inc. lifted its stake in Snap-on by 51.1% during the third quarter. First Horizon Advisors Inc. now owns 334 shares of the company’s stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Snap-on by 27.5% during the fourth quarter. Signaturefd LLC now owns 241 shares of the company’s stock worth $52,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

A number of research analysts have commented on the company. Tigress Financial upped their price target on Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. Robert W. Baird upped their price target on Snap-on from $240.00 to $242.00 in a research note on Friday, February 4th. Finally, StockNews.com started coverage on Snap-on in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $251.25.

Shares of NYSE SNA traded down $3.46 during mid-day trading on Tuesday, hitting $214.50. The company had a trading volume of 8,775 shares, compared to its average volume of 391,214. The company has a market capitalization of $11.45 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.16 and a quick ratio of 2.32. Snap-on Incorporated has a 1-year low of $197.75 and a 1-year high of $259.99. The business’s 50-day simple moving average is $212.35 and its 200 day simple moving average is $212.59.

Snap-on (NYSE:SNAGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.34. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Snap-on had a return on equity of 20.34% and a net margin of 19.54%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $3.50 earnings per share. On average, analysts expect that Snap-on Incorporated will post 15.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 19th. Snap-on’s dividend payout ratio (DPR) is presently 36.81%.

Snap-on Profile (Get Rating)

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

See Also

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

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