Nuveen LLC Takes Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Nuveen LLC has taken a new position in Snap-On Incorporated, acquiring 135,636 shares valued at approximately $45.7 million, representing 0.26% ownership as of their latest SEC filing.
• Snap-On reported **earnings per share (EPS)** of $4.72 for the most recent quarter, surpassing analysts' expectations of $4.61, with quarterly revenue of $1.18 billion.
• The company announced a **quarterly dividend** of $2.14, slated for payment on September 10th, reflecting an annualized yield of 2.6% and a payout ratio of 45.65%.

Nuveen LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 135,636 shares of the company's stock, valued at approximately $45,711,000. Nuveen LLC owned 0.26% of Snap-On as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new position in shares of Snap-On during the 1st quarter worth about $25,000. Golden State Wealth Management LLC grew its holdings in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares during the period. Opal Wealth Advisors LLC acquired a new position in Snap-On during the first quarter valued at approximately $35,000. Finally, ORG Partners LLC grew its holdings in Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares during the period. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of SNA stock opened at $325.02 on Friday. 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 $16.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The company's 50 day moving average price is $319.50 and its two-hundred day moving average price is $325.50. Snap-On Incorporated has a 52 week low of $268.90 and a 52 week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate 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 was up .0% compared to the same quarter last year. During the same period last year, the company earned $5.07 earnings per share. On average, analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal 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 of this dividend is Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Robert W. Baird boosted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction on Monday, August 11th. The shares were 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 of the company's stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,304 shares of company stock worth $15,061,306. 3.90% of the stock is currently owned by insiders.

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.

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