Snap-On Incorporated (NYSE:SNA) Stock Holdings Boosted by Invesco Ltd.

Invesco Ltd. boosted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 684,875 shares of the company's stock after buying an additional 47,557 shares during the period. Invesco Ltd. owned 1.31% of Snap-On worth $230,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its position 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. Opal Wealth Advisors LLC bought a new position in Snap-On in the 1st quarter valued at about $35,000. Finally, ORG Partners LLC grew its position in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after buying an additional 95 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,304 shares of company stock worth $15,061,306 in the last quarter. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Snap-On Stock Performance

NYSE:SNA opened at $333.90 on Thursday. Snap-On Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $319.37 and a 200-day moving average of $325.69. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted 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 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 period in the prior year, the firm earned $5.07 earnings per share. The business's quarterly revenue was up .0% on a year-over-year basis. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $2.14 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's dividend payout ratio is currently 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.

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