DAVENPORT & Co LLC Buys 142 Shares of Snap-On Incorporated $SNA

DAVENPORT & Co LLC increased its stake in Snap-On Incorporated (NYSE:SNA) by 21.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 789 shares of the company’s stock after acquiring an additional 142 shares during the quarter. DAVENPORT & Co LLC’s holdings in Snap-On were worth $246,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the 1st quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new stake in Snap-On in the 2nd quarter valued at $30,000. Golden State Wealth Management LLC increased its stake in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Snap-On during the 1st quarter valued at $34,000. Finally, Cullen Frost Bankers Inc. increased its stake in Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

SNA opened at $332.61 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.27 and a beta of 0.78. The firm’s fifty day moving average price is $331.48 and its two-hundred day moving average price is $323.64. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.07 EPS. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

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

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Tigress Financial boosted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Robert W. Baird boosted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Bank of America boosted their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last three months. 3.90% of the stock is owned by insiders.

Snap-On 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.