Bahl & Gaynor Inc. Grows Position in Snap-On Incorporated $SNA

Bahl & Gaynor Inc. boosted its position in Snap-On Incorporated (NYSE:SNA) by 18.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,746 shares of the company’s stock after purchasing an additional 54,188 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.65% of Snap-On worth $114,835,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Choreo LLC raised its holdings in Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock worth $2,432,000 after purchasing an additional 3,170 shares in the last quarter. Ethic Inc. raised its holdings in Snap-On by 18.6% in the fourth quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after purchasing an additional 1,445 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Snap-On in the first quarter worth about $218,000. OneDigital Investment Advisors LLC raised its holdings in Snap-On by 26.4% in the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company’s stock worth $292,000 after purchasing an additional 181 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Snap-On by 27.4% in the first quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company’s stock worth $4,595,000 after purchasing an additional 2,932 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Price Performance

Shares of NYSE:SNA opened at $332.7510 on Friday. Snap-On Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89. The company’s 50 day moving average is $320.24 and its 200 day moving average is $324.28. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market cap of $17.36 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $5.07 EPS. Snap-On’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On’s dividend payout ratio is currently 45.65%.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,160 shares of company stock worth $16,650,792. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Finally, Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $356.17.

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.