Bahl & Gaynor Inc. Buys 35,605 Shares of Snap-On Incorporated $SNA

Bahl & Gaynor Inc. raised its stake in shares of Snap-On Incorporated (NYSE:SNA) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,351 shares of the company’s stock after acquiring an additional 35,605 shares during the period. Bahl & Gaynor Inc. owned about 0.72% of Snap-On worth $117,113,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after purchasing an additional 80,422 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 valued at $647,593,000 after buying an additional 115,306 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Snap-On during the 2nd quarter worth approximately $434,938,000. Nordea Investment Management AB boosted its stake in shares of Snap-On by 3.7% in the 2nd 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 during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Snap-On by 5.4% in the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after acquiring an additional 43,467 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Trading Up 1.5%

Shares of SNA opened at $336.07 on Friday. The firm has a market cap of $17.48 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The business has a 50-day moving average of $338.96 and a 200 day moving average of $327.69.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm 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 revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $4.70 earnings per share. As a group, research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a dividend of $2.44 per share. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird lifted their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Tigress Financial lifted their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Five 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.com, Snap-On has an average rating of “Moderate Buy” and an average price target of $365.00.

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.