Asset Management One Co. Ltd. Raises Position in Snap-On Incorporated $SNA

Asset Management One Co. Ltd. boosted its stake in Snap-On Incorporated (NYSE:SNA) by 0.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 21,690 shares of the company’s stock after buying an additional 48 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Snap-On were worth $6,749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Horizon Investments LLC lifted its stake in Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after buying an additional 32 shares in the last quarter. Forvis Mazars Wealth Advisors LLC lifted its stake in Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after buying an additional 32 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after buying an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake 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 buying an additional 35 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after buying an additional 38 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Roth Capital reiterated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a report on Wednesday, October 15th. Finally, Bank of America increased 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. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Snap-On Stock Down 1.0%

Shares of NYSE SNA opened at $342.93 on Wednesday. The company has a 50 day simple moving average of $335.37 and a 200-day simple moving average of $324.96. The company has a market capitalization of $17.84 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $4.70 EPS. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’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 transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,898 shares of company stock valued at $8,983,203 in the last 90 days. Insiders own 3.90% of the company’s stock.

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.