Ethic Inc. Raises Position in Snap-On Incorporated $SNA

Ethic Inc. grew its position in Snap-On Incorporated (NYSE:SNA) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,836 shares of the company’s stock after acquiring an additional 268 shares during the period. Ethic Inc.’s holdings in Snap-On were worth $3,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rehmann Capital Advisory Group lifted its stake in shares of Snap-On by 23.2% in the second quarter. Rehmann Capital Advisory Group now owns 1,598 shares of the company’s stock valued at $497,000 after purchasing an additional 301 shares during the period. TFB Advisors LLC lifted its stake in shares of Snap-On by 10.8% in the second quarter. TFB Advisors LLC now owns 1,338 shares of the company’s stock valued at $416,000 after purchasing an additional 130 shares during the period. Brookstone Capital Management lifted its stake in shares of Snap-On by 5.5% in the second quarter. Brookstone Capital Management now owns 1,831 shares of the company’s stock valued at $570,000 after purchasing an additional 96 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Snap-On by 146.5% in the second quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $78,000 after purchasing an additional 148 shares during the period. Finally, Journey Advisory Group LLC lifted its stake in shares of Snap-On by 1.7% in the second quarter. Journey Advisory Group LLC now owns 10,788 shares of the company’s stock valued at $3,357,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of SNA opened at $347.09 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The stock has a market cap of $18.05 billion, a P/E ratio of 18.20, a PEG ratio of 2.37 and a beta of 0.78. The company has a 50-day moving average of $334.18 and a two-hundred day moving average of $324.39. 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 earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.70 earnings per share. As a group, research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

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

Analyst Upgrades and Downgrades

SNA has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Bank of America raised their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial lifted their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report 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.com, Snap-On has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 4,731 shares of the business’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 value 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 $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’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 completion of the transaction, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. Company insiders own 3.90% of the company’s stock.

Snap-On Company 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.