Johnson Investment Counsel Inc. Lowers Position in Snap-On Incorporated $SNA

Johnson Investment Counsel Inc. trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 2.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,158 shares of the company’s stock after selling 64 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Snap-On were worth $672,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SNA. Kingstone Capital Partners Texas LLC purchased a new stake in Snap-On during the second quarter worth approximately $434,938,000. Auto Owners Insurance Co grew its stake in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after buying an additional 1,070,025 shares during the period. Ameriprise Financial Inc. grew its stake in Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after buying an additional 239,908 shares during the period. Nuveen LLC purchased a new stake in Snap-On during the first quarter worth approximately $45,711,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after buying an additional 115,306 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Trading Up 1.5%

SNA opened at $337.00 on Wednesday. The stock has a market capitalization of $17.58 billion, a PE ratio of 17.97, a P/E/G ratio of 2.31 and a beta of 0.78. The firm’s fifty day moving average price is $331.78 and its 200 day moving average price is $323.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89.

Snap-On (NYSE:SNA) last posted its quarterly 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm’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. As a group, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is currently 45.65%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction on Monday, August 11th. The shares were 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 owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, September 23rd. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Finally, Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $357.00.

Snap-On Company 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.