Epoch Investment Partners Inc. Sells 1,166 Shares of Snap-On Incorporated $SNA

Key Points

• Epoch Investment Partners Inc. reduced its holdings in Snap-On by 3.0%, concluding the quarter with 37,812 shares valued at approximately $12.7 million.
• Recent analyst ratings for Snap-On have varied, with Bank of America setting a price target of $285 and Barrington Research maintaining a bullish outlook with a target of $350.
• The company announced a quarterly dividend of $2.14, translating to an annual yield of 2.6%, and is scheduled for payment on September 10th to shareholders of record as of August 19th.

Epoch Investment Partners Inc. lessened its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,812 shares of the company's stock after selling 1,166 shares during the period. Epoch Investment Partners Inc. owned about 0.07% of Snap-On worth $12,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the first quarter worth $25,000. Golden State Wealth Management LLC raised its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after acquiring an additional 72 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-On during the first quarter worth $35,000. Finally, ORG Partners LLC raised its holdings in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Down 0.6%

NYSE SNA traded down $2.01 during trading on Friday, hitting $325.14. 172,805 shares of the company traded hands, compared to its average volume of 236,053. Snap-On Incorporated has a 12 month low of $268.90 and a 12 month high of $373.89. The business has a fifty day simple moving average of $322.31 and a 200 day simple moving average of $323.72. 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 market capitalization of $16.96 billion, a P/E ratio of 17.34, a PEG ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $5.07 earnings per share. The business's revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. 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 45.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on SNA. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday. Finally, Robert W. Baird increased their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $357.00.

Insider Transactions at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction dated 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 directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% 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, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,160 shares of company stock worth $16,650,792. Company insiders own 3.90% of the company's stock.

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.