Meeder Asset Management Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,803 shares of the company’s stock after selling 77 shares during the quarter. Meeder Asset Management Inc.’s holdings in Snap-on were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. KCL Capital L.P. purchased a new stake in Snap-on in the 1st quarter valued at approximately $12,122,000. BlackRock Inc. boosted its stake in shares of Snap-on by 21.0% during the 1st quarter. BlackRock Inc. now owns 5,476,063 shares of the company’s stock worth $857,113,000 after acquiring an additional 950,400 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Snap-on by 488.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 146,465 shares of the company’s stock worth $26,191,000 after acquiring an additional 121,573 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Snap-on during the 1st quarter worth approximately $18,485,000. Finally, Investec Asset Management LTD boosted its stake in shares of Snap-on by 16.5% during the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock worth $116,603,000 after acquiring an additional 99,944 shares in the last quarter.

Shares of Snap-on stock opened at $149.22 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.48 and a quick ratio of 1.70. Snap-on Incorporated has a 1 year low of $135.29 and a 1 year high of $189.46. The company has a market capitalization of $8.23 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.44 and a beta of 1.25. The business has a 50 day moving average price of $153.75 and a 200 day moving average price of $159.10.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 18th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.21 by $0.01. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The firm had revenue of $951.30 million during the quarter, compared to the consensus estimate of $959.33 million. During the same period in the previous year, the firm posted $3.11 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts expect that Snap-on Incorporated will post 12.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given a dividend of $0.95 per share. The ex-dividend date is Monday, August 19th. This represents a $3.80 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is currently 32.18%.

In related news, Chairman Nicholas T. Pinchuk sold 19,403 shares of Snap-on stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total transaction of $3,193,733.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anup R. Banerjee sold 2,800 shares of Snap-on stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.40, for a total value of $421,120.00. Following the transaction, the senior vice president now owns 128 shares of the company’s stock, valued at $19,251.20. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Several brokerages have recently commented on SNA. Zacks Investment Research lowered Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price target on the stock. in a research note on Tuesday, July 16th. Tigress Financial reissued a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research note on Friday, May 17th. Robert W. Baird set a $164.00 price target on Snap-on and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine lowered Snap-on from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $172.60.

Snap-on 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: Balanced Fund

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

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