Charles Schwab Investment Management Inc. Has $647.59 Million Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Snap-On Incorporated (NYSE:SNA) by 6.4%, owning approximately 3.67% of the company with a holding valued at $647.59 million.
• Analysts have shown mixed sentiment towards Snap-On, with price targets ranging from $265.00 to $350.00 and a consensus rating of Moderate Buy, suggesting potential volatility in the stock price.
• Snap-On announced a quarterly dividend of $2.14 per share, representing an annualized yield of 2.7%, which indicates a strong commitment to returning value to shareholders.

Charles Schwab Investment Management Inc. lifted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,921,584 shares of the company's stock after acquiring an additional 115,306 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.67% of Snap-On worth $647,593,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC lifted its holdings in Snap-On by 78.3% during the 1st quarter. Choreo LLC now owns 7,218 shares of the company's stock worth $2,432,000 after buying an additional 3,170 shares in the last quarter. Ethic Inc. raised its stake in shares of Snap-On by 18.6% in the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after acquiring an additional 1,445 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Snap-On in the first quarter valued at $218,000. OneDigital Investment Advisors LLC raised its stake in shares of Snap-On by 26.4% in the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after acquiring an additional 181 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Snap-On by 27.4% in the first quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after purchasing an additional 2,932 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the 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 sale, the director directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock valued at $9,482,532 over the last quarter. Company insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

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

Snap-On Stock Up 0.2%

Shares of NYSE:SNA traded up $0.71 during trading on Friday, hitting $321.67. 156,768 shares of the company were exchanged, compared to its average volume of 368,937. The firm's 50 day moving average price is $318.92 and its 200-day moving average price is $326.01. Snap-On Incorporated has a 12-month low of $267.00 and a 12-month high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The stock has a market capitalization of $16.78 billion, a P/E ratio of 17.16, a PEG ratio of 2.24 and a beta of 0.76.

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

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.7%. Snap-On's payout ratio is 45.65%.

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.