1,500 Shares in Snap-On Incorporated $SNA Acquired by Corient IA LLC

Key Points

• Corient IA LLC has made a new investment of $506,000 in Snap-On Incorporated (NYSE:SNA), acquiring 1,500 shares in the first quarter.
• Snap-On recently reported quarterly earnings, achieving $4.72 EPS, which exceeded analysts' expectations of $4.61, and its revenue was $1.18 billion, slightly above the forecast.
• The company announced a quarterly dividend of $2.14 per share, with an annual yield of 2.6%, indicating a solid commitment to returning capital to shareholders.

Corient IA LLC bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,500 shares of the company's stock, valued at approximately $506,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after acquiring an additional 115,306 shares during the period. First Trust Advisors LP raised its stake in Snap-On by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after acquiring an additional 411,317 shares during the period. Auto Owners Insurance Co raised its stake in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after acquiring an additional 1,070,025 shares during the period. Earnest Partners LLC raised its stake in Snap-On by 1.9% during the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after acquiring an additional 18,209 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Snap-On by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after acquiring an additional 50,187 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of several research reports. Robert W. Baird increased their price objective 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. Bank of America increased their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note 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. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $356.17.

Insider Activity

In other news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the sale, the chief financial officer owned 111,667 shares of the company's stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,160 shares of company stock worth $16,650,792 over the last three months. Corporate insiders own 3.90% of the company's stock.

Snap-On Price Performance

Shares of Snap-On stock traded down $2.2590 on Thursday, hitting $320.9010. The company had a trading volume of 144,599 shares, compared to its average volume of 379,841. The business has a 50-day simple moving average of $319.74 and a 200-day simple moving average of $324.66. 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 company has a market cap of $16.74 billion, a PE ratio of 17.11, a PEG ratio of 2.26 and a beta of 0.76. Snap-On Incorporated has a 52 week low of $268.90 and a 52 week high of $373.89.

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

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $2.14 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.7%. Snap-On's dividend payout ratio (DPR) 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.