Gotham Asset Management LLC Acquires 5,549 Shares of Snap-On Incorporated $SNA

Key Points

• Gotham Asset Management LLC increased its stake in Snap-On Incorporated by 19.9%, owning approximately $11.3 million worth of stock after acquiring an additional 5,549 shares.
• Snap-On reported a quarterly EPS of $4.72, surpassing analysts' expectations and achieving a revenue of $1.18 billion during the same period.
• The company announced a quarterly dividend of $2.14 per share, representing an annualized yield of 2.6% with a payout ratio of 45.65%.

Gotham Asset Management LLC increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 19.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,491 shares of the company's stock after purchasing an additional 5,549 shares during the quarter. Gotham Asset Management LLC owned 0.06% of Snap-On worth $11,287,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in Snap-On during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC increased its holdings in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-On during the first quarter worth about $35,000. Finally, ORG Partners LLC grew its holdings in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction dated Friday, August 15th. The shares were 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 directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock valued at $8,983,203 over the last three months. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNA shares. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Tigress Financial lifted their price target 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. Robert W. Baird lifted their price target 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. Finally, Bank of America lifted their price target 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. 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Up 2.3%

Shares of NYSE:SNA traded up $7.43 during midday trading on Thursday, reaching $331.59. The company had a trading volume of 100,789 shares, compared to its average volume of 364,871. 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's fifty day moving average price is $324.47 and its 200-day moving average price is $323.04. The stock has a market capitalization of $17.30 billion, a P/E ratio of 17.70, a PEG ratio of 2.24 and a beta of 0.77. Snap-On Incorporated has a one year low of $273.08 and a one year high of $373.89.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. 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 dividend payout ratio is presently 45.65%.

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.