Envestnet Portfolio Solutions Inc. Purchases 5,394 Shares of Snap-On Incorporated $SNA

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Snap-On Incorporated by 10.3%, acquiring an additional 5,394 shares, bringing its total holdings to 57,545 shares valued at approximately $17.9 million.
• Snap-On reported $4.72 earnings per share for the last quarter, exceeding analysts' expectations of $4.61, with quarterly revenue increasing by 0.0% to $1.18 billion.
• The company recently announced a quarterly dividend of $2.14 per share, representing an annualized yield of 2.6% and a payout ratio of 45.65%.

Envestnet Portfolio Solutions Inc. raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,545 shares of the company's stock after purchasing an additional 5,394 shares during the period. Envestnet Portfolio Solutions Inc. owned approximately 0.11% of Snap-On worth $17,907,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SNA. GAMMA Investing LLC boosted its holdings in Snap-On by 93.5% in the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock valued at $703,000 after purchasing an additional 1,008 shares during the period. SG Americas Securities LLC raised its position in shares of Snap-On by 634.8% in the 1st quarter. SG Americas Securities LLC now owns 3,762 shares of the company's stock valued at $1,268,000 after buying an additional 3,250 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Snap-On by 4.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company's stock valued at $2,508,000 after buying an additional 320 shares in the last quarter. CX Institutional acquired a new position in shares of Snap-On in the 1st quarter valued at approximately $113,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of Snap-On in the 1st quarter valued at approximately $359,000. Institutional investors own 84.88% of the company's stock.

Snap-On Price Performance

SNA stock opened at $327.21 on Monday. The company has a 50 day simple moving average of $331.20 and a 200 day simple moving average of $323.62. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.27 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $287.44 and a 1 year 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.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.07 EPS. Research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued 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 of this dividend was Tuesday, August 19th. Snap-On's payout ratio is presently 45.65%.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 125 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 over the last three months. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SNA. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Bank of America boosted their target price 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. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, October 8th. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Finally, Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Five equities 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 MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and an average target price of $357.00.

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.

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