Portside Wealth Group LLC Boosts Stock Holdings in Snap-On Incorporated $SNA

Portside Wealth Group LLC grew its holdings in Snap-On Incorporated (NYSE:SNA) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,655 shares of the company’s stock after purchasing an additional 577 shares during the period. Portside Wealth Group LLC’s holdings in Snap-On were worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SNA. Tobam bought a new stake in Snap-On during the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in shares of Snap-On in the second quarter worth $30,000. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. purchased a new stake in Snap-On during the 2nd quarter worth about $45,000. 84.88% of the stock is owned by institutional investors.

Snap-On Trading Up 0.4%

Shares of SNA stock opened at $330.16 on Wednesday. The business has a 50-day moving average price of $338.81 and a two-hundred day moving average price of $327.50. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89. 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 firm has a market cap of $17.17 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion for 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%.Snap-On’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $4.70 EPS. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SNA shares. Weiss Ratings reaffirmed 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 note on Tuesday, October 21st. Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Robert W. Baird upped their price target 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 given a Sell rating to the company. According to data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price 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.