Snap-On Incorporated $SNA Shares Purchased by Ethic Inc.

Ethic Inc. raised its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,836 shares of the company’s stock after purchasing an additional 268 shares during the quarter. Ethic Inc.’s holdings in Snap-On were worth $3,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNA. Kingstone Capital Partners Texas LLC acquired a new position in Snap-On during the second quarter worth approximately $434,938,000. Auto Owners Insurance Co increased its position in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. Ameriprise Financial Inc. increased its position in Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after purchasing an additional 239,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Snap-On during the second quarter worth approximately $56,595,000. Finally, Nuveen LLC acquired a new position in Snap-On during the first quarter worth approximately $45,711,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $40,651.25. Following the transaction, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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 Price Performance

SNA opened at $347.09 on Friday. The company has a fifty day simple moving average of $334.18 and a 200 day simple moving average of $324.39. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.37 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. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $4.70 EPS. Equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 44.89%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNA shares. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reissued a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird increased their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Tigress Financial increased their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.