1,014 Shares in Snap-On Incorporated $SNA Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC acquired a new stake of 1,014 shares in Snap-On Incorporated, valued at approximately $316,000, during the second quarter.
• Analysts have a consensus rating of "Moderate Buy" for Snap-On shares, with an average target price of $357.00, indicating potential growth in the stock's value.
• Snap-On recently declared a quarterly dividend of $2.14 per share, translating to an annualized dividend yield of 2.5% and a dividend payout ratio of 45.65%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,014 shares of the company's stock, valued at approximately $316,000.

A number of other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Snap-On during the 2nd quarter worth approximately $434,938,000. Auto Owners Insurance Co grew its holdings in Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of 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 purchasing an additional 239,908 shares in the last quarter. Nuveen LLC acquired a new position in shares of Snap-On during the first quarter worth $45,711,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Snap-On by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after purchasing an additional 115,306 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNA shares. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Tigress Financial upped 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. Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Robert W. Baird upped their price target 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, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $357.00.

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 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated 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 sale, the chief financial officer directly 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. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Insiders own 3.90% of the company's stock.

Snap-On Price Performance

NYSE:SNA opened at $340.88 on Tuesday. The firm's fifty day moving average is $330.22 and its two-hundred day moving average is $323.69. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a one year low of $284.38 and a one year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.07 EPS. Research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend 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 presently 45.65%.

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.

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