Benjamin Edwards Inc. Buys 2,258 Shares of Snap-On Incorporated $SNA

Benjamin Edwards Inc. grew its stake in Snap-On Incorporated (NYSE:SNA) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,691 shares of the company’s stock after acquiring an additional 2,258 shares during the period. Benjamin Edwards Inc.’s holdings in Snap-On were worth $56,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tobam bought a new position in Snap-On in the second quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Snap-On in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On during the first quarter valued at $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of SNA opened at $350.61 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.24 billion, a PE ratio of 18.39, a P/E/G ratio of 2.65 and a beta of 0.78. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $365.78. The stock has a fifty day moving average price of $339.81 and a 200-day moving average price of $329.88.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.70 EPS. Equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal 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. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. Snap-On’s dividend payout ratio (DPR) is 51.18%.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Tigress Financial lifted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $365.00.

Insider Activity at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This represents a 59.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of Snap-On stock in a transaction on 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 sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,036 shares of company stock worth $13,710,988 in the last quarter. 3.90% of the stock is currently owned by company insiders.

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.