TD Asset Management Inc Purchases 1,219 Shares of Snap-On Incorporated $SNA

Key Points

• TD Asset Management Inc increased its stake in Snap-On Incorporated by 5.2%, acquiring 1,219 additional shares during the 2nd quarter, bringing their total ownership to 24,610 shares valued at approximately $7.66 million.
• Multiple analysts view Snap-On's stock positively, with firms like Barrington Research and Roth Capital setting price targets of $350.00 and $385.00 respectively, suggesting a strong growth outlook for the company.
• Snap-On recently reported EPS of $4.71 for the quarter, exceeding expectations, and announced a quarterly dividend of $2.14 per share, representing an annualized yield of 2.5%.

TD Asset Management Inc increased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,610 shares of the company's stock after buying an additional 1,219 shares during the period. TD Asset Management Inc's holdings in Snap-On were worth $7,658,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On during the 1st quarter worth $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On during the 2nd quarter worth $30,000. Golden State Wealth Management LLC boosted its holdings 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 purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. boosted its holdings 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 purchasing an additional 72 shares during the period. Finally, Ransom Advisory Ltd bought a new stake in Snap-On in the 1st quarter valued at $34,000. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Roth Capital reissued a "buy" rating and issued a $385.00 price target on shares of Snap-On in a report on Friday. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird increased their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a report on Friday. Finally, Tigress Financial increased their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Snap-On currently has an average rating of "Moderate Buy" and a consensus target price of $363.57.

Snap-On Price Performance

NYSE:SNA opened at $339.61 on Monday. The company has a 50-day moving average of $332.77 and a 200-day moving average of $323.68. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.36 and a beta of 0.78. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $4.70 EPS. As a group, equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On's dividend payout ratio (DPR) is 44.89%.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 815,219 shares of the company's stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock valued at $8,983,203 in the last quarter. 3.90% of the stock is currently owned by corporate 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.

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