United Services Automobile Association Purchases New Holdings in Snap-On Incorporated $SNA

Key Points

• United Services Automobile Association acquired 1,181 shares of Snap-On Incorporated during the first quarter, valued at approximately $389,000.
• A number of analysts have raised their price targets for Snap-On, with the average target now at $357.00, reflecting a generally positive outlook for the stock.
• Snap-On recently declared a quarterly dividend of $2.14 per share, representing an annualized basis yield of 2.6%, with a payout ratio of 45.65%.

United Services Automobile Association bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,181 shares of the company's stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNA. Alpine Bank Wealth Management acquired a new stake in Snap-On in the 1st quarter valued at $25,000. Golden State Wealth Management LLC raised its stake in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of 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 buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Snap-On during the 1st quarter worth approximately $35,000. Finally, ORG Partners LLC increased its position in Snap-On by 150.8% during the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after purchasing an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of 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 increased their target price 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 restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock valued at $8,983,203 in the last three months. 3.90% of the stock is currently owned by company insiders.

Snap-On Trading Down 1.2%

Snap-On stock traded down $3.95 during midday trading on Tuesday, reaching $335.77. 183,607 shares of the stock traded hands, compared to its average volume of 365,433. The company has a 50-day simple moving average of $325.41 and a two-hundred day simple moving average of $322.75. 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 firm has a market cap of $17.51 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. Snap-On Incorporated has a 12-month low of $279.74 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm's revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.07 earnings per share. Research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $2.14 dividend. 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 45.65%.

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.