Snap-On Incorporated $SNA Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Snap-On Incorporated by 33.2%, bringing its total shares to 101,706, valued at approximately $34.3 million.
• Snap-On recently reported earnings of $4.72 per share, exceeding analysts' expectations of $4.61, with revenues of $1.18 billion for the quarter.
• The company announced a quarterly dividend of $2.14, which translates to an annualized yield of 2.7%, to be paid on September 10th.

American Century Companies Inc. increased its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,706 shares of the company's stock after buying an additional 25,358 shares during the period. American Century Companies Inc. owned about 0.19% of Snap-On worth $34,276,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ethic Inc. increased its position in shares of Snap-On by 25.6% in the 1st quarter. Ethic Inc. now owns 11,568 shares of the company's stock valued at $3,928,000 after purchasing an additional 2,356 shares during the last quarter. Element Capital Management LLC acquired a new stake in Snap-On during the 1st quarter worth $2,724,000. Aberdeen Group plc boosted its stake in Snap-On by 67.0% during the 1st quarter. Aberdeen Group plc now owns 35,402 shares of the company's stock worth $11,895,000 after purchasing an additional 14,203 shares during the period. Horizon Investments LLC lifted its stake in shares of Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock worth $261,000 after acquiring an additional 32 shares during the period. Finally, Hamlin Capital Management LLC lifted its stake in shares of Snap-On by 1.5% in the 1st quarter. Hamlin Capital Management LLC now owns 502,645 shares of the company's stock worth $169,396,000 after acquiring an additional 7,403 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Trading Up 0.2%

Shares of SNA traded up $0.61 during mid-day trading on Tuesday, hitting $329.56. The company had a trading volume of 66,949 shares, compared to its average volume of 375,721. The business's 50-day simple moving average is $320.58 and its 200-day simple moving average is $323.88. 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 Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89. The stock has a market cap of $17.19 billion, a PE ratio of 17.58, a P/E/G ratio of 2.32 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. The firm 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%. Snap-On's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 earnings per share. Sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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. Corporate insiders own 3.90% of the company's stock.

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.