Jacobi Capital Management LLC Grows Stock Position in Snap-On Incorporated $SNA

Jacobi Capital Management LLC grew its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 692 shares of the company’s stock after purchasing an additional 78 shares during the quarter. Jacobi Capital Management LLC’s holdings in Snap-On were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Snap-On by 6.4% in 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 during the period. Auto Owners Insurance Co increased its stake in Snap-On by 35,967.2% in 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 period. Northern Trust Corp increased its stake in shares of Snap-On by 5.4% during the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after buying an additional 43,467 shares during the period. Envestnet Asset Management Inc. grew its stake in Snap-On by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company’s stock valued at $261,023,000 after purchasing an additional 15,097 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock valued at $236,919,000 after purchasing an additional 701,925 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Finally, Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and an average target price of $357.00.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value 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. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 125 shares of the business’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 completion of the sale, the chief financial officer 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 disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock valued at $8,983,203 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.5%

Shares of SNA stock opened at $333.70 on Friday. The stock has a 50 day moving average of $324.94 and a 200 day moving average of $322.84. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock has a market cap of $17.41 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.31 and a beta of 0.77. Snap-On Incorporated has a twelve month low of $278.75 and a twelve month high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.Snap-On’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $5.07 earnings per share. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s payout ratio is 45.65%.

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.