Bahl & Gaynor Inc. Acquires 54,188 Shares of Snap-On Incorporated $SNA

Key Points

• Bahl & Gaynor Inc. increased its stake in Snap-On Incorporated by 18.9% during Q1, owning approximately 0.65% of the company, valued at $114.8 million.
• Snap-On reported Q2 earnings of $4.72 per share, exceeding the consensus estimate of $4.61, with revenues of $1.18 billion.
• The company declared a quarterly dividend of $2.14 per share, resulting in an annualized yield of 2.6%.

Bahl & Gaynor Inc. lifted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 18.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 340,746 shares of the company's stock after purchasing an additional 54,188 shares during the quarter. Bahl & Gaynor Inc. owned 0.65% of Snap-On worth $114,835,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in shares of Snap-On in the first quarter worth about $25,000. Golden State Wealth Management LLC lifted its position in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Snap-On in the 1st quarter worth approximately $35,000. Finally, ORG Partners LLC boosted its stake in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America lifted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Snap-On currently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at $36,332,786.41. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director directly owned 8,030 shares of the company's stock, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,160 shares of company stock valued at $16,650,792 in the last three months. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Up 0.3%

Shares of Snap-On stock traded up $0.83 on Wednesday, hitting $330.62. 200,516 shares of the company traded hands, compared to its average volume of 375,757. The company has a 50-day moving average price of $321.03 and a 200 day moving average price of $323.92. 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 12-month low of $268.90 and a 12-month high of $373.89. The company has a market cap of $17.25 billion, a PE ratio of 17.63, a PEG ratio of 2.29 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.72 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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the company posted $5.07 EPS. Snap-On's revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

About Snap-On

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.