1,007 Shares in Snap-On Incorporated $SNA Bought by Martin Capital Partners LLC

Key Points

• Martin Capital Partners LLC has acquired a new position in Snap-On Incorporated, purchasing 1,007 shares valued at approximately $313,000.
• Snap-On reported a quarterly earnings per share (EPS) of $4.72, exceeding analysts’ expectations of $4.61, with revenue reaching $1.18 billion during the same period.
• The company has recently declared a quarterly dividend of $2.14 per share, translating to an annualized yield of 2.6% and a payout ratio of 45.65%.

Martin Capital Partners LLC acquired a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,007 shares of the company's stock, valued at approximately $313,000.

Other institutional investors have also added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC boosted its position in shares of Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after purchasing an additional 32 shares in the last quarter. Horizon Investments LLC lifted its stake in Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after buying an additional 32 shares during the period. TrinityPoint Wealth LLC boosted its holdings in shares of Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock worth $1,414,000 after buying an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after buying an additional 34 shares during the period. Finally, Canandaigua National Trust Co of Florida increased its stake in shares of Snap-On by 5.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after acquiring an additional 37 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Up 0.5%

Shares of SNA stock opened at $333.70 on Monday. Snap-On Incorporated has a 1 year low of $278.75 and a 1 year high of $373.89. The company's fifty day simple moving average is $324.94 and its two-hundred day simple moving average is $322.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.32 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the company earned $5.07 earnings per share. Snap-On's revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 transaction, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 in the last 90 days. Company insiders own 3.90% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Tigress Financial boosted their price target 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 objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and an average price target of $357.00.

About Snap-On

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.

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