Vestmark Advisory Solutions Inc. Has $661,000 Stock Holdings in Snap-On Incorporated $SNA

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Snap-On Incorporated by 138.4%, bringing its total holdings to 1,960 shares valued at approximately $661,000.
• Snap-On announced a quarterly dividend of $2.14 per share, which corresponds to an annual yield of 2.6%.
• The company's recent quarterly earnings surpassed expectations, reporting $4.72 earnings per share, exceeding the consensus estimate of $4.61 by $0.11.

Vestmark Advisory Solutions Inc. grew its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 138.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,960 shares of the company's stock after acquiring an additional 1,138 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Snap-On were worth $661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-On by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after buying an additional 115,306 shares during the period. Auto Owners Insurance Co boosted its position in shares of Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after buying an additional 1,070,025 shares during the period. Earnest Partners LLC boosted its position in shares of Snap-On by 1.9% in the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after buying an additional 18,209 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Snap-On by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after buying an additional 50,187 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Snap-On by 22.4% in the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after buying an additional 145,861 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNA shares. Robert W. Baird upped their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Stock Performance

Shares of Snap-On stock traded up $9.6050 on Friday, reaching $330.9850. 103,372 shares of the company were exchanged, compared to its average volume of 378,060. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The company's 50-day moving average is $319.78 and its two-hundred day moving average is $324.44. The firm has a market cap of $17.26 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 2.25 and a beta of 0.76. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last posted its 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the firm earned $5.07 EPS. The firm's revenue was up .0% compared to the same quarter last year. As a group, research analysts expect 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. Investors of record on Tuesday, August 19th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 completion of the transaction, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, 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 52,160 shares of company stock worth $16,650,792 in the last three months. 3.90% of the stock is owned by company insiders.

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.