Aberdeen Group plc Raises Position in Snap-On Incorporated $SNA

Key Points

• Aberdeen Group plc raised its stake in Snap-On Incorporated by 9.3% during the second quarter, now owning 38,701 shares valued at approximately $12.04 million.
• Snap-On recently reported a quarterly earnings per share (EPS) of $4.72, beating expectations, with a net margin of 20.98% and revenue of $1.18 billion.
• The company declared a quarterly dividend of $2.14 per share, resulting in an annualized yield of 2.6% and a payout ratio of 45.65%.

Aberdeen Group plc increased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,701 shares of the company's stock after purchasing an additional 3,299 shares during the period. Aberdeen Group plc owned 0.07% of Snap-On worth $12,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. GAMMA Investing LLC raised its position in shares of Snap-On by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock valued at $703,000 after purchasing an additional 1,008 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Snap-On by 6.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company's stock valued at $15,949,000 after purchasing an additional 2,790 shares during the period. Ritholtz Wealth Management raised its position in shares of Snap-On by 8.3% during the 1st quarter. Ritholtz Wealth Management now owns 1,108 shares of the company's stock valued at $373,000 after purchasing an additional 85 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Snap-On by 9.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 946 shares of the company's stock valued at $319,000 after purchasing an additional 83 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in shares of Snap-On during the 1st quarter valued at $430,000. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

Shares of NYSE:SNA opened at $332.45 on Thursday. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.34 and a beta of 0.78. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The firm's 50-day moving average is $331.97 and its 200 day moving average is $323.79. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last released 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. 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 period in the previous year, the company earned $5.07 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. Research analysts predict that Snap-On Incorporated will post 19.79 EPS 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 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 yield of 2.6%. Snap-On's dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America raised their price objective 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Tigress Financial lifted their price target 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. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Wednesday. Five 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's stock. Based on data from MarketBeat, Snap-On has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's 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 sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last 90 days. 3.90% of the stock is currently owned by company 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.

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