Cerity Partners LLC Increases Stake in Snap-On Incorporated (NYSE:SNA)

Cerity Partners LLC raised its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 10.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 18,487 shares of the company's stock after purchasing an additional 1,745 shares during the period. Cerity Partners LLC's holdings in Snap-On were worth $6,230,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SNA. Ethic Inc. raised its holdings in Snap-On by 18.6% during the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after buying an additional 1,445 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Snap-On by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after acquiring an additional 27,700 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Snap-On in the 1st quarter worth $218,000. OneDigital Investment Advisors LLC raised its position in Snap-On by 26.4% in the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock worth $292,000 after acquiring an additional 181 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in Snap-On by 27.4% in the first quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after acquiring an additional 2,932 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred on 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 directly owned 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 over the last three months. 3.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird increased their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Snap-On has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Price Performance

Shares of SNA stock traded down $0.90 during trading hours on Friday, reaching $336.91. The stock had a trading volume of 111,096 shares, compared to its average volume of 369,636. The stock's fifty day simple moving average is $318.47 and its 200 day simple moving average is $327.84. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $266.55 and a 12 month high of $373.90. The firm has a market capitalization of $17.62 billion, a PE ratio of 17.64, a PEG ratio of 2.23 and a beta of 0.76.

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, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned $5.07 earnings per share. Snap-On's revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-On's payout ratio is presently 44.82%.

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.