Snap-On Incorporated $SNA Shares Acquired by Foster & Motley Inc.

Foster & Motley Inc. grew its holdings in Snap-On Incorporated (NYSE:SNA) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,187 shares of the company’s stock after acquiring an additional 275 shares during the period. Foster & Motley Inc.’s holdings in Snap-On were worth $6,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Snap-On in the first quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new position in Snap-On in the second quarter valued at about $30,000. Golden State Wealth Management LLC increased its holdings in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Snap-On in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent research reports. Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Wednesday. Tigress Financial increased their price objective on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Six 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, the company has a consensus rating of “Moderate Buy” and an average target price of $363.57.

Snap-On Stock Performance

NYSE:SNA opened at $339.61 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.42 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89. The firm’s fifty day simple moving average is $332.77 and its 200 day simple moving average is $323.84. The firm has a market capitalization of $17.72 billion, a PE ratio of 17.81, a PEG ratio of 2.39 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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 was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.70 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On’s payout ratio is currently 44.89%.

Insider Activity at Snap-On

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