Seamount Financial Group Inc. Purchases Shares of 2,719 Snap-On Incorporated $SNA

Key Points

• Seamount Financial Group Inc. has acquired 2,719 shares of Snap-On Incorporated, valued at approximately $846,000, as disclosed in their recent SEC filing.
• Institutional investors currently own 84.88% of Snap-On's stock, indicating strong investor confidence in the company.
• Snap-On announced a $2.14 quarterly dividend, reflecting an annualized yield of 2.5% and an overall dividend payout ratio of 45.65%.

Seamount Financial Group Inc. acquired a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,719 shares of the company's stock, valued at approximately $846,000.

Several other institutional investors have also made changes to their positions in SNA. Alpine Bank Wealth Management bought a new position in Snap-On during the first quarter worth about $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Snap-On in the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC raised its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Snap-On during the 1st quarter worth approximately $34,000. Finally, Cullen Frost Bankers Inc. boosted its stake 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 in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 125 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company'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 transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents 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. Insiders own 3.90% of the company's stock.

Snap-On Stock Down 1.9%

Shares of NYSE:SNA opened at $340.88 on Tuesday. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The firm has a market cap of $17.78 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.42 and a beta of 0.78. Snap-On Incorporated has a 12 month low of $284.38 and a 12 month high of $373.89. The company's 50-day moving average price is $330.22 and its two-hundred day moving average price is $323.69.

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

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Analysts Set New Price Targets

SNA has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Saturday, September 27th. Barrington Research restated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research report on Tuesday, September 23rd. Tigress Financial upped their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Bank of America raised their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

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.

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