Kovitz Investment Group Partners LLC Increases Stock Position in Snap-On Incorporated $SNA

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Snap-On Incorporated by 295.9% during the first quarter, owning 25,477 shares valued at approximately $8.58 million.
• Snap-On announced a quarterly dividend of $2.14 per share, representing an annual yield of 2.6% and a dividend payout ratio of 45.65%.
• Analysts have a consensus rating of "Moderate Buy" for Snap-On, with an average target price of $356.17, following various ratings upgrades and changes from brokerages.

Kovitz Investment Group Partners LLC grew its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 295.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,477 shares of the company's stock after acquiring an additional 19,042 shares during the period. Kovitz Investment Group Partners LLC's holdings in Snap-On were worth $8,586,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the 1st quarter worth $25,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 72 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On during the 1st quarter worth approximately $35,000. Finally, ORG Partners LLC lifted 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 purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Bank of America lifted their target price 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. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Stock Down 0.5%

Shares of SNA stock traded down $1.5950 during trading hours on Thursday, reaching $321.5650. The company had a trading volume of 29,519 shares, compared to its average volume of 379,095. The business has a fifty day simple moving average of $319.74 and a 200-day simple moving average of $324.66. Snap-On Incorporated has a 12 month low of $268.90 and a 12 month high of $373.89. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76. 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 issued its quarterly earnings data 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the business earned $5.07 EPS. The business's revenue was up .0% on a year-over-year basis. On average, 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 will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 45.65%.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares of the company's stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the firm's 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 sale, the director owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,160 shares of company stock valued at $16,650,792. Insiders own 3.90% of the company's stock.

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.