UNIVEST FINANCIAL Corp Buys 54 Shares of Snap-On Incorporated $SNA

UNIVEST FINANCIAL Corp boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,263 shares of the company’s stock after purchasing an additional 54 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Snap-On were worth $1,016,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SNA. Ameritas Advisory Services LLC bought a new position in Snap-On during the second quarter valued at about $30,000. Golden State Wealth Management LLC boosted its position 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 purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. boosted its position in Snap-On by 248.3% during 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 period. Ransom Advisory Ltd bought a new position in Snap-On during the first quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position 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 purchasing an additional 38 shares during the period. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Tigress Financial increased 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, October 21st. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Trading Up 0.4%

Shares of Snap-On stock opened at $338.63 on Friday. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 17.76, a PEG 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. The company’s 50-day moving average price is $336.00 and its 200-day moving average price is $325.06.

Snap-On (NYSE:SNA) last announced its quarterly 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. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $4.70 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued 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 dividend payout ratio is presently 44.89%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction that occurred 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 directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’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 sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,898 shares of company stock worth $8,983,203 over the last ninety days. 3.90% of the stock is currently owned by insiders.

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.