Caisse DE Depot ET Placement DU Quebec Raises Stock Holdings in Snap-On Incorporated $SNA

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Snap-On Incorporated by 10.3% during the 1st quarter, owning a total of 365,028 shares valued at approximately $123 million.
• Snap-On recently reported earnings of $4.72 per share for the quarter, exceeding analysts' expectations, alongside a revenue of $1.18 billion which matched estimates.
• The company declared a quarterly dividend of $2.14 to be paid out on September 10th, representing an annualized dividend yield of 2.6%.

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 365,028 shares of the company's stock after purchasing an additional 34,080 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.70% of Snap-On worth $123,018,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Synovus Financial Corp increased its position in shares of Snap-On by 3.1% during the 1st quarter. Synovus Financial Corp now owns 3,977 shares of the company's stock valued at $1,340,000 after purchasing an additional 119 shares during the last quarter. Jump Financial LLC increased its position in shares of Snap-On by 367.7% during the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company's stock valued at $1,861,000 after purchasing an additional 4,342 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Snap-On by 29.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 938 shares of the company's stock valued at $309,000 after purchasing an additional 212 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of Snap-On by 18.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 340,746 shares of the company's stock valued at $114,835,000 after purchasing an additional 54,188 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Snap-On by 1,390.7% during the 1st quarter. AlphaQuest LLC now owns 5,456 shares of the company's stock valued at $1,839,000 after purchasing an additional 5,090 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Trading Up 0.3%

Snap-On stock traded up $0.83 during mid-day trading on Wednesday, hitting $330.62. The company's stock had a trading volume of 200,554 shares, compared to its average volume of 247,258. The company has a 50 day moving average of $321.51 and a 200-day moving average of $323.97. The stock has a market cap of $17.24 billion, a PE ratio of 17.63, a P/E/G ratio of 2.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a one year low of $268.90 and a one year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the business earned $5.07 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America boosted their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Robert W. Baird upped their price objective on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. 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 data from MarketBeat.com, Snap-On presently has an average rating of "Moderate Buy" and an average target price of $356.17.

Insiders Place Their Bets

In related news, Director Karen L. Daniel sold 1,090 shares of the company'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 completion of the sale, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. This represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares of the company's stock, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,160 shares of company stock worth $16,650,792. 3.90% of the stock is currently 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.