Northern Trust Corp Acquires 43,467 Shares of Snap-On Incorporated $SNA

Key Points

• Northern Trust Corp has increased its stake in Snap-On Incorporated by 5.4%, now owning 841,721 shares valued at approximately $283.7 million.
• Snap-On's quarterly earnings report exceeded expectations with an EPS of $4.72, surpassing the consensus estimate of $4.61.
• The company announced a quarterly dividend of $2.14 per share, yielding 2.6%, with a payout ratio of 45.65%.

Northern Trust Corp increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,721 shares of the company's stock after acquiring an additional 43,467 shares during the period. Northern Trust Corp owned approximately 1.61% of Snap-On worth $283,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in shares of Snap-On during the 4th quarter valued at approximately $401,000. NewEdge Advisors LLC raised its stake in shares of Snap-On by 2.9% in the fourth quarter. NewEdge Advisors LLC now owns 6,016 shares of the company's stock valued at $2,043,000 after acquiring an additional 168 shares during the period. Norinchukin Bank The lifted its holdings in shares of Snap-On by 2.5% in the 4th quarter. Norinchukin Bank The now owns 2,066 shares of the company's stock worth $701,000 after acquiring an additional 50 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Snap-On by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 13,884 shares of the company's stock worth $4,713,000 after acquiring an additional 202 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Snap-On by 57.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,719 shares of the company's stock worth $1,602,000 after purchasing an additional 1,721 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Performance

Snap-On stock opened at $323.2710 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The company has a market capitalization of $16.86 billion, a PE ratio of 17.24, a P/E/G ratio of 2.26 and a beta of 0.76. The company has a 50 day moving average price of $319.74 and a 200-day moving average price of $324.66. Snap-On Incorporated has a fifty-two week low of $268.90 and a fifty-two week high of $373.89.

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

Snap-On Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in 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. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Robert W. Baird upped 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. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,160 shares of company stock worth $16,650,792 in the last three months. Corporate insiders own 3.90% of the company's stock.

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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