Snap-on Incorporated (NYSE:SNA) Stock Position Raised by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lifted its position in Snap-on Incorporated (NYSE:SNA) by 36.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 286,558 shares of the company’s stock after buying an additional 76,317 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Snap-on were worth $97,281,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares in the last quarter. Nordea Investment Management AB increased its position in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after purchasing an additional 78,184 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock worth $15,906,074 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $333.45 on Tuesday. The company has a fifty day moving average price of $343.25 and a 200 day moving average price of $326.29. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The firm has a market cap of $17.47 billion, a PE ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company earned $4.75 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.57%. Snap-on’s payout ratio is presently 43.90%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Snap-on has an average rating of “Hold” and an average target price of $345.40.

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.