Townsquare Capital LLC Increases Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Townsquare Capital LLC increased its holdings in Snap-On by 6.0% in Q1, owning 29,173 shares valued at approximately $9.83 million by the end of the quarter.
• Snap-On recently announced a quarterly dividend of $2.14 per share, with an annualized yield of 2.7%.
• The company reported earnings of $4.72 per share for the last quarter, exceeding analysts' expectations, and had a revenue of $1.18 billion.

Townsquare Capital LLC raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,173 shares of the company's stock after purchasing an additional 1,640 shares during the period. Townsquare Capital LLC owned 0.06% of Snap-On worth $9,832,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. TrinityPoint Wealth LLC lifted its position in Snap-On by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after acquiring an additional 33 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Snap-On by 5.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after acquiring an additional 34 shares during the last quarter. Canandaigua National Trust Co of Florida boosted its holdings in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the last quarter. Advisors Capital Management LLC raised its stake in Snap-On by 3.4% during the fourth quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after buying an additional 39 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Snap-On by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 3,073 shares of the company's stock worth $1,043,000 after purchasing an additional 40 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

Shares of SNA stock traded down $0.49 during mid-day trading on Monday, hitting $321.31. The stock had a trading volume of 222,314 shares, compared to its average volume of 363,728. Snap-On Incorporated has a fifty-two week low of $267.00 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company's 50-day simple moving average is $319.01 and its 200-day simple moving average is $325.64. The firm has a market cap of $16.76 billion, a PE ratio of 17.14, a PEG ratio of 2.24 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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 paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 19th. Snap-On's dividend payout ratio is presently 45.65%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,857 shares of company stock valued at $16,876,248. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent research reports. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Robert W. Baird raised 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. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One 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.com, Snap-On currently has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Company 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.