Assetmark Inc. Grows Position in Snap-On Incorporated $SNA

Assetmark Inc. lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,471 shares of the company’s stock after buying an additional 14,230 shares during the period. Assetmark Inc. owned approximately 0.29% of Snap-On worth $47,757,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Snap-On during the second quarter valued at $30,000. Golden State Wealth Management LLC boosted its position in 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 purchasing an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in 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 purchasing an additional 72 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Snap-On in the first quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial lifted their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Bank of America lifted their price target 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. Robert W. Baird lifted their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Roth Capital reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Five investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the business’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 completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On Trading Up 0.4%

Shares of NYSE:SNA opened at $338.63 on Friday. The stock has a 50 day moving average of $336.00 and a 200 day moving average of $325.06. The company has a market cap of $17.61 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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 was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.70 EPS. As a group, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is currently 44.89%.

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.