Rehmann Capital Advisory Group Buys 2,337 Shares of Snap-On Incorporated $SNA

Rehmann Capital Advisory Group raised its stake in shares of Snap-On Incorporated (NYSE:SNA) by 50.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,980 shares of the company’s stock after acquiring an additional 2,337 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Snap-On were worth $2,809,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. BlackRock Inc. bought a new position in Snap-On during the 2nd quarter valued at about $1,715,363,000. State Street Corp increased its holdings in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after buying an additional 28,071 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Snap-On by 3.3% in the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-On by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after acquiring an additional 39,765 shares during the last quarter. Finally, Auto Owners Insurance Co boosted its holdings in shares of Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after acquiring an additional 1,022,210 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Down 1.3%

Shares of SNA opened at $386.88 on Tuesday. The stock’s fifty day simple moving average is $404.06 and its 200-day simple moving average is $385.47. The firm has a market capitalization of $20.01 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.76 and a beta of 0.73. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.72 EPS. As a group, research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s payout ratio is currently 49.77%.

Analysts Set New Price Targets

SNA has been the topic of a number of recent analyst reports. Tigress Financial boosted their price objective on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Roth Capital reissued a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Finally, Robert W. Baird set a $415.00 target price on shares of Snap-On in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $426.20.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,531 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 46,728 shares of company stock worth $18,803,009. 3.80% of the stock is owned by company insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.