Snap-On Incorporated $SNA Shares Bought by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its holdings in Snap-On by 11.6%, acquiring an additional 3,411 shares during the 1st quarter, making its total ownership approximately 0.06% valued at $11.06 million.
• Snap-On's executive team recently made significant sales, with CEO Nicholas T. Pinchuk selling 23,042 shares worth $7.39 million, indicating a 2.75% decrease in his position.
• The company announced a quarterly dividend of $2.14 per share, representing a 2.6% dividend yield, with the ex-dividend date set for August 19th.

Baird Financial Group Inc. grew its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,807 shares of the company's stock after buying an additional 3,411 shares during the period. Baird Financial Group Inc. owned 0.06% of Snap-On worth $11,056,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SNA. Alpine Bank Wealth Management purchased a new position in shares of Snap-On during the first quarter worth approximately $25,000. Golden State Wealth Management LLC grew its position in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in shares of 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 acquiring an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the first quarter worth $35,000. Finally, ORG Partners LLC lifted its holdings in shares of Snap-On by 150.8% during the first 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. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Price Performance

Shares of NYSE:SNA traded down $0.12 during midday trading on Friday, hitting $328.65. 157,227 shares of the stock were exchanged, compared to its average volume of 212,322. The stock has a market cap of $17.14 billion, a P/E ratio of 17.53, a PEG ratio of 2.29 and a beta of 0.77. 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 Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89. The company has a 50 day moving average price of $323.96 and a 200-day moving average price of $323.20.

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

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Analysts Set New Price Targets

SNA has been the subject of several recent research reports. Tigress Financial increased their price target on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Finally, Robert W. Baird increased their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Four investment 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 target price of $357.00.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of Snap-On 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 owned 111,721 shares in the company, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by company insiders.

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.