Allworth Financial LP Buys 3,236 Shares of Snap-On Incorporated $SNA

Allworth Financial LP grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 638.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,743 shares of the company’s stock after buying an additional 3,236 shares during the period. Allworth Financial LP’s holdings in Snap-On were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new position in Snap-On during the second quarter valued at approximately $30,000. Ransom Advisory Ltd bought a new position in shares of Snap-On during the first quarter worth $34,000. Cullen Frost Bankers Inc. grew its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Snap-On in the second quarter worth about $45,000. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Bank of America lifted 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Tigress Financial boosted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Price Performance

Shares of NYSE SNA opened at $329.43 on Friday. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.33 and a beta of 0.81. The business has a 50-day moving average of $338.62 and a 200-day moving average of $327.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89.

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

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a $2.44 dividend. This is a boost from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is 51.18%.

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.