Vision Capital Management Inc. Purchases 952 Shares of Snap-On Incorporated $SNA

Key Points

• Vision Capital Management Inc. increased its stake in Snap-On Incorporated by 5.7%, acquiring an additional 952 shares during the second quarter, bringing its total holdings to approximately $5.48 million.
• Snap-On's CFO and CEO recently sold shares of the company, with the CFO selling 125 shares for about $40,651 and the CEO selling 23,042 shares for roughly $7.39 million, indicating a slight decrease in their ownership positions.
• Snap-On declared a quarterly dividend of $2.14 per share, resulting in an annualized dividend yield of 2.5%, with a payout ratio of 45.65%.

Vision Capital Management Inc. boosted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,598 shares of the company's stock after acquiring an additional 952 shares during the period. Vision Capital Management Inc.'s holdings in Snap-On were worth $5,476,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% during 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 in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% during 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 in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Snap-On during the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company's stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company's stock.

Snap-On Trading Down 0.8%

Shares of NYSE SNA opened at $336.68 on Friday. Snap-On Incorporated has a 1 year low of $284.38 and a 1 year high of $373.89. The stock has a market cap of $17.56 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The firm has a 50-day moving average of $328.18 and a 200 day moving average of $323.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations 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 was up .0% on a year-over-year basis. During the same period last year, the company posted $5.07 EPS. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued 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 is presently 45.65%.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday. Tigress Financial lifted 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. Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Finally, Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Snap-On presently has an average rating of "Moderate Buy" and a consensus price target 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.

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