Snap-On Incorporated $SNA Shares Bought by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp increased its stake in Snap-On by 15% in Q2, owning 244,971 shares valued at approximately $76.23 million.
• Snap-On reported $4.72 EPS in its last quarterly results, exceeding estimates, along with a revenue of $1.18 billion for the quarter.
• The company recently declared a quarterly dividend of $2.14, representing a 2.6% yield and an annualized payout of $8.56.

Boston Trust Walden Corp lifted its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,971 shares of the company's stock after acquiring an additional 31,993 shares during the quarter. Boston Trust Walden Corp owned 0.47% of Snap-On worth $76,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. GAMMA Investing LLC raised its holdings in Snap-On by 93.5% during the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock valued at $703,000 after buying an additional 1,008 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Snap-On by 634.8% during the 1st quarter. SG Americas Securities LLC now owns 3,762 shares of the company's stock valued at $1,268,000 after acquiring an additional 3,250 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Snap-On by 4.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company's stock valued at $2,508,000 after buying an additional 320 shares during the period. CX Institutional acquired a new position in Snap-On in the 1st quarter worth $113,000. Finally, Elevation Point Wealth Partners LLC raised its holdings in shares of Snap-On by 3.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,997 shares of the company's stock valued at $673,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Price Performance

SNA stock opened at $332.61 on Tuesday. The company's fifty day moving average price is $331.48 and its 200-day moving average price is $323.64. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The company has a market capitalization of $17.35 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. 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 results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The company 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.07 earnings per share. On average, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio is 45.65%.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on 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 transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNA. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, September 23rd. Finally, Tigress Financial boosted their price target 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. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

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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