Snap-On Incorporated $SNA Shares Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Snap-On Incorporated by 42%, now holding shares worth $2.24 million after acquiring additional stocks in the first quarter.
• Several institutional investors, including Alpine Bank Wealth Management and Golden State Wealth Management LLC, have recently adjusted their positions in Snap-On, indicating strong institutional interest with 84.88% of the company owned by such investors.
• Snap-On announced a quarterly dividend of $2.14 per share, reflecting a 2.6% dividend yield and a payout ratio of 45.65%.

Northwest & Ethical Investments L.P. raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 42.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,657 shares of the company's stock after acquiring an additional 1,968 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Snap-On were worth $2,243,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sprucegrove Investment Management Ltd. increased its stake in Snap-On by 88.1% in the first quarter. Sprucegrove Investment Management Ltd. now owns 41,580 shares of the company's stock valued at $14,013,000 after purchasing an additional 19,480 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its stake in Snap-On by 1.6% in the first quarter. Alliance Wealth Advisors LLC UT now owns 10,556 shares of the company's stock valued at $3,558,000 after purchasing an additional 162 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its stake in Snap-On by 0.7% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after purchasing an additional 32 shares during the last quarter. United Capital Management of KS Inc. increased its stake in Snap-On by 2.5% in the first quarter. United Capital Management of KS Inc. now owns 14,287 shares of the company's stock valued at $4,815,000 after purchasing an additional 350 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Snap-On by 33.2% in the first quarter. American Century Companies Inc. now owns 101,706 shares of the company's stock valued at $34,276,000 after purchasing an additional 25,358 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction dated 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 directly owned 111,721 shares of the company's stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,160 shares of company stock valued at $16,650,792 over the last quarter. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNA shares. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird upped their target price on 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 upped their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Trading Up 3.5%

SNA stock traded up $11.3710 during trading on Friday, reaching $332.7510. 230,404 shares of the stock traded hands, compared to its average volume of 250,540. The business's 50 day moving average price is $320.24 and its 200-day moving average price is $324.05. Snap-On Incorporated has a 52-week low of $268.90 and a 52-week 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. The firm has a market capitalization of $17.36 billion, a PE ratio of 17.75, a P/E/G ratio of 2.32 and a beta of 0.76.

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

Snap-On Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio is presently 45.65%.

Snap-On 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.