Cullen Frost Bankers Inc. Purchases 148 Shares of Snap-On Incorporated $SNA

Cullen Frost Bankers Inc. lifted its position in Snap-On Incorporated (NYSE:SNA) by 146.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Snap-On were worth $78,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SNA. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On in the second quarter worth about $30,000. Golden State Wealth Management LLC increased its stake in 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 during the last quarter. Ransom Advisory Ltd bought a new stake in Snap-On during the first quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares during the last quarter. Finally, Harbor Asset Planning Inc. bought a new stake in Snap-On during the second quarter worth approximately $45,000. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-On

In other 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 transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer 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 SEC, which is accessible through this hyperlink. 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock valued at $8,983,203. Company insiders own 3.90% of the company’s stock.

Snap-On Stock Down 0.7%

Snap-On stock opened at $344.10 on Friday. The business has a fifty day moving average of $334.54 and a two-hundred day moving average of $324.74. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $17.90 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.38 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share 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 analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.70 earnings per share. On average, analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio is currently 44.89%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday. Five 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’s stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $365.00.

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.