Hilltop National Bank Makes New $126,000 Investment in Snap-On Incorporated $SNA

Hilltop National Bank purchased a new stake in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 404 shares of the company’s stock, valued at approximately $126,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Horizon Investments LLC raised its stake in Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock worth $261,000 after buying an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC raised its position in shares of Snap-On by 0.7% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock worth $1,553,000 after purchasing an additional 32 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after purchasing an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Snap-On by 28.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after purchasing an additional 35 shares during the period. Finally, Canandaigua National Trust Co of Florida increased its stake in Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock valued at $241,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SNA shares. Tigress Financial raised their price objective on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Robert W. Baird raised their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, September 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Saturday, September 27th. Finally, Bank of America lifted their target price on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $357.00.

Snap-On Price Performance

Snap-On stock opened at $347.39 on Friday. Snap-On Incorporated has a 52 week low of $284.38 and a 52 week high of $373.89. The company’s 50 day moving average price is $329.92 and its two-hundred day moving average price is $323.64. The stock has a market cap of $18.12 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.42 and a beta of 0.78. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

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

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s payout ratio is 45.65%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by company insiders.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.