Ascent Group LLC Makes New $421,000 Investment in Snap-On Incorporated $SNA

Key Points

• Ascent Group LLC invested $421,000 in Snap-On Incorporated, acquiring 1,249 shares during the first quarter.
• Snap-On's stock price increased by 2.4%, with shares opening at $331.88 and a market capitalization of $17.31 billion.
• The company reported earnings of $4.72 per share for the last quarter, surpassing analysts' expectations and showing a 20.98% net margin.

Ascent Group LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,249 shares of the company's stock, valued at approximately $421,000.

Several other institutional investors have also made changes to their positions in the business. Horizon Investments LLC boosted its position in shares of Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after acquiring an additional 32 shares in the last quarter. 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 acquiring an additional 32 shares in the last quarter. TrinityPoint Wealth LLC boosted its position 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 valued at $1,414,000 after acquiring an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted 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 valued at $234,000 after acquiring an additional 34 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its stake in Snap-On by 5.4% during the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock worth $241,000 after buying an additional 37 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Down 1.2%

SNA traded down $3.94 during trading on Tuesday, hitting $335.79. 183,607 shares of the company's stock were exchanged, compared to its average volume of 365,433. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $325.41 and its two-hundred day moving average is $322.75. Snap-On Incorporated has a fifty-two week low of $279.74 and a fifty-two week high of $373.89. The stock has a market cap of $17.51 billion, a P/E ratio of 17.90, a PEG ratio of 2.32 and a beta of 0.77.

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 for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.07 earnings per share. As a group, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNA. Tigress Financial lifted their target price 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. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird lifted their target price 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, Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Four 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. According to data from MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and an average target price of $357.00.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This 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 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 transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by company insiders.

Snap-On 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.