Snap-On Incorporated $SNA Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its position in Snap-On Incorporated (NYSE:SNA) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,427 shares of the company’s stock after purchasing an additional 1,070 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Snap-On were worth $6,668,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-On by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after buying an additional 115,306 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Snap-On in the second quarter worth approximately $434,938,000. Nordea Investment Management AB grew its position in Snap-On by 3.7% in the second quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after acquiring an additional 43,430 shares during the period. Northern Trust Corp increased its stake in Snap-On by 5.4% during the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock worth $283,668,000 after acquiring an additional 43,467 shares during the last quarter. Finally, Invesco Ltd. raised its position in Snap-On by 7.5% in the first quarter. Invesco Ltd. now owns 684,875 shares of the company’s stock valued at $230,810,000 after purchasing an additional 47,557 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNA. Tigress Financial increased their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Robert W. Baird lifted their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Price Performance

Shares of NYSE SNA opened at $331.26 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The stock’s 50-day moving average is $338.92 and its two-hundred day moving average is $327.54. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $4.70 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a $2.44 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is currently 51.18%.

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.