Snap-On Incorporated $SNA Shares Purchased by Vanguard Group Inc.

by · The Cerbat Gem

Vanguard Group Inc. grew its holdings in Snap-On Incorporated (NYSE:SNA – Free Report) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,495,475 shares of the company’s stock after buying an additional 80,422 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Snap-On worth $2,021,262,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 115,306 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snap-On in the second quarter valued at about $434,938,000. Nordea Investment Management AB boosted its holdings in Snap-On by 3.7% during the second quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after buying an additional 43,430 shares in the last quarter. Northern Trust Corp grew its position 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 buying an additional 43,467 shares during the period. Finally, Invesco Ltd. increased its holdings 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 buying an additional 47,557 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Trading Up 1.5%

Shares of SNA stock opened at $336.07 on Friday. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.33 and a beta of 0.81. 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 firm has a 50-day moving average price of $338.96 and a 200 day moving average price of $327.69. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89.

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

Snap-On Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Roth Capital reissued a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Robert W. Baird increased 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. Five research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.00.

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About Snap-On

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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.

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