Snap-On Incorporated $SNA Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its stake in Snap-On Incorporated (NYSE:SNA) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,489 shares of the company’s stock after buying an additional 1,798 shares during the period. Snap-On makes up about 0.7% of Benjamin Edwards Inc.’s investment portfolio, making the stock its 27th largest holding. Benjamin Edwards Inc. owned approximately 0.35% of Snap-On worth $63,602,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Advisors Capital Management LLC increased its stake in Snap-On by 5.3% in 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. Jacobs Levy Equity Management Inc. purchased a new position in shares of Snap-On during the 1st quarter valued at $1,986,000. Ascent Group LLC acquired a new position in shares of Snap-On in the first quarter worth $421,000. Caxton Associates LLP purchased a new stake in shares of Snap-On during the first quarter worth $946,000. Finally, United Services Automobile Association purchased a new stake in shares of Snap-On during the first quarter worth $389,000. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNA. Robert W. Baird boosted their target price on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. 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. 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, Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Stock Performance

SNA opened at $352.63 on Thursday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $343.79 and its two-hundred day moving average price is $334.21. The firm has a market capitalization of $18.34 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.80. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $365.78.

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

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were paid a $2.44 dividend. The ex-dividend date was Friday, November 21st. 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 2.8%. Snap-On’s dividend payout ratio is 51.18%.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. This represents a 59.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,036 shares of company stock valued at $13,710,988 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.