Vanguard Group Inc. Raises Stock Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Vanguard Group Inc. increased its holdings in Snap-On by 0.2% in Q1, now owning approximately 12.27% of the company, valued at over $2.16 billion.
• Snap-On's stock was recently rated as a "Moderate Buy" by analysts, with a consensus price target of $356.17, following upgrades from multiple firms.
• Insider trading activity included significant sales by Director Karen L. Daniel and CEO Nicholas T. Pinchuk, decreasing their respective ownership in the company.

Vanguard Group Inc. boosted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 0.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,415,053 shares of the company's stock after purchasing an additional 10,454 shares during the quarter. Vanguard Group Inc. owned about 12.27% of Snap-On worth $2,161,937,000 as of its most recent filing with the Securities and Exchange Commission.

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

Snap-On Price Performance

Shares of NYSE:SNA traded up $4.38 on Tuesday, reaching $325.55. The company's stock had a trading volume of 161,967 shares, compared to its average volume of 355,949. Snap-On Incorporated has a 52-week low of $267.95 and a 52-week high of $373.89. The company has a market cap of $16.98 billion, a P/E ratio of 17.36, a PEG ratio of 2.23 and a beta of 0.76. The company has a 50-day simple moving average of $319.10 and a 200 day simple moving average of $325.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

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

Snap-On Announces Dividend

The company 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. 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%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the transaction, the chief financial officer directly owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,857 shares of company stock valued at $16,876,248. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

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

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.