Aberdeen Group plc Acquires 14,203 Shares of Snap-On Incorporated $SNA

Key Points

• Aberdeen Group plc increased its stake in Snap-On Incorporated by 67.0%, owning 35,402 shares valued at approximately $11.9 million after acquiring an additional 14,203 shares in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Snap-On stock, with a consensus price target of $356.17, following several price upgrades from various research firms.
• Snap-On announced a quarterly dividend of $2.14 per share, scheduled for payment on September 10th, with a current yield of 2.6% and a payout ratio of 45.65%.

Aberdeen Group plc increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 67.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,402 shares of the company's stock after purchasing an additional 14,203 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Snap-On worth $11,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in shares of Snap-On during the 1st quarter valued at $25,000. Golden State Wealth Management LLC lifted its holdings in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during 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 purchasing an additional 72 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Snap-On in the first quarter worth about $35,000. Finally, ORG Partners LLC raised its position in shares of Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-On Price Performance

Shares of NYSE SNA traded up $11.3710 during trading hours on Friday, reaching $332.7510. 230,404 shares of the stock traded hands, compared to its average volume of 250,540. The company's 50-day simple moving average is $320.24 and its two-hundred day simple moving average is $324.28. The company has a market capitalization of $17.36 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. Snap-On Incorporated has a 52-week low of $268.90 and a 52-week high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio is presently 45.65%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Finally, Bank of America boosted their price target 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. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $356.17.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,160 shares of company stock valued at $16,650,792. 3.90% of the stock is currently owned by insiders.

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.