Federated Hermes Inc. Boosts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Federated Hermes Inc. boosted its stake in Snap-on Incorporated (NYSE:SNA) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,512 shares of the company’s stock after purchasing an additional 849 shares during the quarter. Federated Hermes Inc.’s holdings in Snap-on were worth $5,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Avantax Planning Partners Inc. lifted its position in shares of Snap-on by 3.5% in the third quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after buying an additional 38 shares in the last quarter. Phoenix Wealth Advisors raised its holdings in shares of Snap-on by 3.1% during the 3rd quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Snap-on by 17.2% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after acquiring an additional 40 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Snap-on by 2.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock valued at $570,000 after purchasing an additional 48 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in Snap-on by 5.3% in the fourth quarter. Ballentine Partners LLC now owns 948 shares of the company’s stock worth $274,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock worth $13,399,449. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNA shares. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Finally, Robert W. Baird lowered their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $270.16 on Friday. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.89 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $247.68 and a 12 month high of $298.49. The firm’s 50-day moving average is $284.19 and its 200 day moving average is $278.72.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business posted $4.60 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s dividend payout ratio is currently 39.03%.

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.