Foster & Motley Inc. Has $6.28 Million Stake in Snap-On Incorporated $SNA

Foster & Motley Inc. grew its position in Snap-On Incorporated (NYSE:SNA) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,187 shares of the company’s stock after purchasing an additional 275 shares during the period. Foster & Motley Inc.’s holdings in Snap-On were worth $6,282,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in Snap-On in the 1st quarter worth about $25,000. Ameritas Advisory Services LLC bought a new position in Snap-On in the second quarter worth $30,000. Golden State Wealth Management LLC grew its stake in shares of Snap-On by 421.1% in 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 during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Snap-On during the first quarter valued at $34,000. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Down 1.3%

SNA opened at $339.61 on Friday. The stock has a market capitalization of $17.72 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The business’s 50-day simple moving average is $332.77 and its 200-day simple moving average is $323.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.42 and a current ratio of 4.40.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.70 EPS. Analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed 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. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio is presently 44.89%.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SNA shares. Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Robert W. Baird upped their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $363.57.

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.