Vident Advisory LLC Raises Stock Position in Snap-On Incorporated $SNA

Key Points

• Vident Advisory LLC increased its stake in Snap-On Incorporated by 17.0% during the first quarter, acquiring an additional 1,053 shares, bringing its total holdings to 7,253 shares valued at approximately $2,445,000.
• Several other institutional investors also increased their positions, with 84.88% of Snap-On's stock now held by institutional investors.
• Snap-On recently announced a quarterly dividend of $2.14 per share, yielding 2.6%, with an ex-dividend date set for August 19th.

Vident Advisory LLC lifted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,253 shares of the company's stock after purchasing an additional 1,053 shares during the quarter. Vident Advisory LLC's holdings in Snap-On were worth $2,445,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 115,306 shares during the period. Auto Owners Insurance Co increased its holdings 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 purchasing an additional 1,070,025 shares during the period. Northern Trust Corp increased its holdings in shares of Snap-On by 5.4% in the first quarter. Northern Trust Corp now owns 841,721 shares of the company's stock worth $283,668,000 after purchasing an additional 43,467 shares during the period. Envestnet Asset Management Inc. grew its position in Snap-On by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company's stock worth $261,023,000 after acquiring an additional 15,097 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after acquiring an additional 701,925 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On Trading Up 2.1%

Shares of Snap-On stock traded up $6.77 during trading on Thursday, reaching $328.62. 236,775 shares of the stock were exchanged, compared to its average volume of 370,943. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average is $323.23 and its 200 day moving average is $323.50. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77. 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 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $5.07 earnings per share. As a group, equities 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Snap-On's dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

SNA has been the subject of several research reports. Robert W. Baird upped 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. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Tigress Financial upped their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Bank of America upped their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

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.