Rehmann Capital Advisory Group grew its holdings in Snap-On Incorporated (NYSE:SNA – Free Report) by 50.3% in the 2nd quarter, Holdings Channel reports. The fund owned 6,980 shares of the company’s stock after purchasing an additional 2,337 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Snap-On were worth $2,809,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Snap-On during the 2nd quarter worth approximately $1,715,363,000. State Street Corp increased its position in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after acquiring an additional 28,071 shares in the last quarter. First Trust Advisors LP increased its position in shares of Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock worth $693,306,000 after acquiring an additional 39,765 shares during the period. Finally, Auto Owners Insurance Co lifted its position in Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after acquiring an additional 1,022,210 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.
Insider Buying and Selling at Snap-On
In other news, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This trade represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,728 shares of company stock valued at $18,803,009 in the last 90 days. Company insiders own 3.80% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Research Report on SNA
Snap-On Price Performance
NYSE:SNA opened at $386.88 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock’s 50-day simple moving average is $404.06 and its 200 day simple moving average is $385.47. The company has a market cap of $20.01 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.76 and a beta of 0.73. Snap-On Incorporated has a 52-week low of $319.20 and a 52-week high of $423.02.
Snap-On (NYSE:SNA – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.72 earnings per share. As a group, sell-side analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.
Snap-On Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.
About Snap-On
Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.
Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.
Featured Articles
- Five stocks we like better than Snap-On
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA – Free Report).
Receive News & Ratings for Snap-On Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-On and related companies with MarketBeat.com's FREE daily email newsletter.
