Comerica Bank Acquires 222 Shares of Snap-on Incorporated (NYSE:SNA)

Comerica Bank increased its position in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,393 shares of the company’s stock after purchasing an additional 222 shares during the period. Comerica Bank’s holdings in Snap-on were worth $2,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. acquired a new stake in Snap-on during the 1st quarter worth approximately $26,000. Parkside Financial Bank & Trust raised its holdings in Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares in the last quarter. NuWave Investment Management LLC acquired a new position in Snap-on in the 3rd quarter valued at $29,000. Venture Visionary Partners LLC acquired a new position in Snap-on in the 2nd quarter valued at $30,000. Finally, Washington Trust Advisors Inc. raised its holdings in Snap-on by 752.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 196 shares of the company’s stock valued at $39,000 after acquiring an additional 173 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of several analyst reports. Oppenheimer cut Snap-on from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 6th. StockNews.com started coverage on Snap-on in a report on Wednesday, October 12th. They set a “buy” rating for the company.

Snap-on Trading Up 0.2 %

Shares of SNA stock opened at $248.81 on Tuesday. The firm has a market capitalization of $13.22 billion, a P/E ratio of 15.07, a P/E/G ratio of 2.12 and a beta of 1.09. Snap-on Incorporated has a twelve month low of $190.08 and a twelve month high of $249.77. The company has a quick ratio of 2.33, a current ratio of 3.29 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $235.18 and its 200 day simple moving average is $222.22.

Snap-on (NYSE:SNAGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.38. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Snap-on had a return on equity of 20.84% and a net margin of 20.17%. Snap-on’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.57 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 16.49 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 21st were given a dividend of $1.62 per share. The ex-dividend date was Friday, November 18th. This represents a $6.48 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Snap-on’s previous quarterly dividend of $1.42. Snap-on’s payout ratio is currently 39.25%.

Insider Buying and Selling

In related news, VP Iain Boyd sold 3,500 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $238.61, for a total transaction of $835,135.00. Following the sale, the vice president now owns 6,244 shares in the company, valued at approximately $1,489,880.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Anup R. Banerjee sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $240.86, for a total value of $1,204,300.00. Following the completion of the sale, the senior vice president now directly owns 3,946 shares of the company’s stock, valued at $950,433.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Iain Boyd sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $238.61, for a total value of $835,135.00. Following the completion of the transaction, the vice president now directly owns 6,244 shares of the company’s stock, valued at $1,489,880.84. The disclosure for this sale can be found here. Insiders have sold 48,166 shares of company stock worth $11,337,057 in the last 90 days. Insiders own 4.30% of the company’s stock.

About Snap-on

(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.

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

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