Universal Beteiligungs und Servicegesellschaft mbH Decreases Holdings in Snap-On Incorporated $SNA

Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2.4% in the second quarter, Holdings Channel reports. The firm owned 47,462 shares of the company’s stock after selling 1,182 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Snap-On were worth $14,769,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Westpac Banking Corp increased its stake in Snap-On by 94.3% during the 2nd quarter. Westpac Banking Corp now owns 14,635 shares of the company’s stock worth $4,554,000 after buying an additional 7,103 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new stake in shares of Snap-On in the second quarter worth approximately $360,000. Rockefeller Capital Management L.P. boosted its stake in shares of Snap-On by 5.3% in the second quarter. Rockefeller Capital Management L.P. now owns 21,427 shares of the company’s stock worth $6,668,000 after acquiring an additional 1,070 shares during the last quarter. CWS Financial Advisors LLC increased its position in shares of Snap-On by 86.7% during the second quarter. CWS Financial Advisors LLC now owns 1,275 shares of the company’s stock worth $397,000 after purchasing an additional 592 shares in the last quarter. Finally, Creative Planning raised its stake in Snap-On by 4.0% in the 2nd quarter. Creative Planning now owns 12,316 shares of the company’s stock valued at $3,832,000 after purchasing an additional 477 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $330.27 on Thursday. The firm has a 50 day simple moving average of $338.93 and a 200-day simple moving average of $327.52. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.70 EPS. On average, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is 51.18%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Roth Capital reaffirmed a “buy” rating and set a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Robert W. Baird boosted their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

About Snap-On

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.