Ethic Inc. Grows Position in Snap-On Incorporated $SNA

Key Points

• Ethic Inc. increased its stake in Snap-On Incorporated by 25.6%, holding 11,568 shares valued at approximately $3.93 million as of their recent SEC filing.
• Recent reports from brokerages indicate a mix of ratings for Snap-On, with a consensus of "Moderate Buy" and an average target price of $356.17.
• The company announced a quarterly dividend of $2.14 per share, reflecting a yield of 2.6% and a payout ratio of 45.65%.

Ethic Inc. raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,568 shares of the company's stock after acquiring an additional 2,356 shares during the period. Ethic Inc.'s holdings in Snap-On were worth $3,928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC bought a new position in shares of Snap-On during the 4th quarter valued at about $401,000. NewEdge Advisors LLC increased its position in shares of Snap-On by 2.9% during the 4th quarter. NewEdge Advisors LLC now owns 6,016 shares of the company's stock valued at $2,043,000 after purchasing an additional 168 shares during the last quarter. GeoWealth Management LLC increased its position in shares of Snap-On by 221.2% during the 4th quarter. GeoWealth Management LLC now owns 1,031 shares of the company's stock valued at $350,000 after purchasing an additional 710 shares during the last quarter. First Trust Advisors LP increased its position in shares of Snap-On by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after purchasing an additional 411,317 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in shares of Snap-On during the 4th quarter valued at about $13,232,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird increased 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. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.17.

Snap-On Trading Down 0.5%

Shares of SNA stock traded down $1.4890 during trading hours on Wednesday, reaching $323.2710. The company's stock had a trading volume of 229,019 shares, compared to its average volume of 381,331. The stock has a market capitalization of $16.86 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.25 and a beta of 0.76. Snap-On Incorporated has a one year low of $268.90 and a one year high of $373.89. The firm's fifty day simple moving average is $319.68 and its 200 day simple moving average is $324.67. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

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

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Insider Transactions at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,160 shares of company stock worth $16,650,792. 3.90% of the stock is currently owned by insiders.

About Snap-On

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.