Sei Investments Co. Acquires 1,806 Shares of Snap-on Incorporated (NYSE:SNA)

Sei Investments Co. raised its holdings in Snap-on Incorporated (NYSE:SNA) by 11.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,969 shares of the company’s stock after purchasing an additional 1,806 shares during the period. Sei Investments Co.’s holdings in Snap-on were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Ameriprise Financial Inc. grew its holdings in shares of Snap-on by 70.1% in the 1st quarter. Ameriprise Financial Inc. now owns 439,113 shares of the company’s stock worth $101,318,000 after purchasing an additional 180,910 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Snap-on by 26.0% in the 1st quarter. AQR Capital Management LLC now owns 642,816 shares of the company’s stock worth $148,324,000 after purchasing an additional 132,579 shares during the last quarter. Apriem Advisors bought a new stake in shares of Snap-on in the 1st quarter worth about $20,055,000. Credit Suisse AG grew its holdings in shares of Snap-on by 50.0% in the 1st quarter. Credit Suisse AG now owns 196,597 shares of the company’s stock worth $45,363,000 after purchasing an additional 65,511 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Snap-on by 1.3% in the 1st quarter. BlackRock Inc. now owns 4,337,474 shares of the company’s stock worth $1,000,827,000 after purchasing an additional 55,911 shares during the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SNA opened at $216.07 on Wednesday. Snap-on Incorporated has a 12 month low of $138.94 and a 12 month high of $259.99. The company’s 50-day moving average price is $223.42 and its two-hundred day moving average price is $230.22. The company has a quick ratio of 1.95, a current ratio of 2.58 and a debt-to-equity ratio of 0.29. The firm has a market cap of $11.66 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.61 and a beta of 1.28.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 22nd. The company reported $3.76 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.58. Snap-on had a net margin of 19.15% and a return on equity of 20.51%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $976.23 million. During the same quarter in the prior year, the firm earned $1.91 EPS. The company’s revenue was up 49.3% on a year-over-year basis. As a group, equities analysts predict that Snap-on Incorporated will post 14.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 20th were issued a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, August 19th. Snap-on’s dividend payout ratio is currently 42.30%.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,492 shares of the company’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $227.29, for a total transaction of $5,566,786.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on SNA. Zacks Investment Research lowered shares of Snap-on from a “buy” rating to a “hold” rating and set a $232.00 target price on the stock. in a report on Thursday, June 24th. Robert W. Baird reaffirmed a “hold” rating and issued a $240.00 target price on shares of Snap-on in a report on Thursday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and a consensus price target of $204.20.

About Snap-on

Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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