Hilltop National Bank Acquires Shares of 404 Snap-On Incorporated $SNA

Hilltop National Bank bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the second quarter, Holdings Channel.com reports. The firm bought 404 shares of the company’s stock, valued at approximately $126,000.

Several other large investors have also recently modified their holdings of the business. Alpine Bank Wealth Management bought a new position in Snap-On in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC lifted its position in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter valued at $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised 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 during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $347.39 on Friday. 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 $18.12 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.42 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $284.38 and a 1-year high of $373.89. The firm has a 50-day moving average of $329.92 and a 200-day moving average of $323.64.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company posted $5.07 EPS. Snap-On’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is 45.65%.

Wall Street Analyst Weigh In

Several research analysts have commented on SNA shares. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Saturday, September 27th. Tigress Financial boosted their price objective 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 increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, September 23rd. Finally, Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $357.00.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on 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 directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company’s stock.

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.