Benjamin Edwards Inc. Buys 19,736 Shares of Snap-On Incorporated (NYSE:SNA)

Key Points

• Benjamin Edwards Inc. increased its stake in Snap-On Incorporated by 12.4% during the first quarter, owning 179,433 shares now valued at approximately $60.47 million.
• Snap-On announced a quarterly dividend of $2.14 per share to be paid on September 10th, representing an annualized dividend of $8.56 and a yield of 2.7%.
• Recent earnings reported a EPS of $4.72 for the quarter, surpassing estimates, while the company experienced a year-over-year revenue increase of 0%, indicating challenges in growth despite profitability.

Benjamin Edwards Inc. raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,433 shares of the company's stock after purchasing an additional 19,736 shares during the period. Snap-On accounts for approximately 0.8% of Benjamin Edwards Inc.'s investment portfolio, making the stock its 24th largest holding. Benjamin Edwards Inc. owned about 0.34% of Snap-On worth $60,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNA. Wellington Management Group LLP increased its position in shares of Snap-On by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 17,220 shares of the company's stock valued at $5,846,000 after acquiring an additional 901 shares during the period. Cerity Partners LLC increased its stake in shares of Snap-On by 105.3% during the fourth quarter. Cerity Partners LLC now owns 16,742 shares of the company's stock worth $5,528,000 after purchasing an additional 8,586 shares in the last quarter. Invesco Ltd. grew its stake in Snap-On by 0.3% during the 4th quarter. Invesco Ltd. now owns 637,318 shares of the company's stock valued at $216,357,000 after acquiring an additional 1,979 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Snap-On by 166.1% in the fourth quarter. APG Asset Management N.V. now owns 47,100 shares of the company's stock valued at $15,441,000 after purchasing an additional 29,400 shares during the period. Finally, F M Investments LLC lifted its holdings in Snap-On by 19.6% in the fourth quarter. F M Investments LLC now owns 6,847 shares of the company's stock valued at $2,324,000 after acquiring an additional 1,122 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,857 shares of company stock worth $16,876,248. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SNA shares. Robert W. Baird raised their price target on 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 note on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Finally, Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Trading Up 1.4%

SNA stock traded up $4.38 during midday trading on Tuesday, hitting $325.55. The stock had a trading volume of 161,967 shares, compared to its average volume of 385,562. The company's 50-day moving average price is $319.01 and its 200 day moving average price is $325.64. Snap-On Incorporated has a 12-month low of $267.95 and a 12-month high of $373.89. The firm has a market cap of $16.98 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.02% and a net margin of 20.98%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $5.07 earnings per share. The firm's revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $2.14 dividend. 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 presently 45.65%.

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.