Federated Hermes Inc. Raises Stake in Snap-On Incorporated $SNA

Federated Hermes Inc. lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 28.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,734 shares of the company’s stock after acquiring an additional 8,106 shares during the period. Federated Hermes Inc. owned 0.07% of Snap-On worth $11,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. Advisors Capital Management LLC raised its position in shares of Snap-On by 5.3% during the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after buying an additional 63 shares during the period. Jump Financial LLC increased its stake in Snap-On by 367.7% during the first quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after acquiring an additional 4,342 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Snap-On during the first quarter worth $1,986,000. Ascent Group LLC purchased a new stake in Snap-On in the first quarter valued at $421,000. Finally, Caxton Associates LLP acquired a new position in shares of Snap-On in the 1st quarter valued at $946,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SNA shares. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Robert W. Baird upped their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 3,091 shares of Snap-On stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $346.80, for a total value of $1,071,958.80. Following the completion of the transaction, the chief financial officer directly owned 108,648 shares in the company, valued at approximately $37,679,126.40. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. The trade was a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,257 shares of company stock valued at $11,323,424 in the last three months. 3.90% of the stock is currently owned by insiders.

Snap-On Stock Up 1.7%

Shares of NYSE:SNA opened at $348.85 on Thursday. The firm has a market capitalization of $18.14 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.59 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $365.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The firm’s 50-day moving average is $339.69 and its two-hundred day moving average is $329.51.

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

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, November 21st. Snap-On’s dividend payout ratio is currently 51.18%.

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.