Snap-On Incorporated $SNA Shares Acquired by Bahl & Gaynor LLC

Bahl & Gaynor LLC raised its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 519,719 shares of the company’s stock after purchasing an additional 27,945 shares during the period. Bahl & Gaynor LLC’s holdings in Snap-On were worth $188,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new position in Snap-On during the first quarter valued at $29,000. Independence Bank of Kentucky purchased a new stake in shares of Snap-On in the third quarter worth $29,000. Gen Wealth Partners Inc bought a new position in shares of Snap-On during the third quarter valued at $30,000. Entrust Financial LLC increased its holdings in shares of Snap-On by 41.2% during the third quarter. Entrust Financial LLC now owns 96 shares of the company’s stock valued at $35,000 after acquiring an additional 28 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Snap-On in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNA shares. Weiss Ratings downgraded shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Robert W. Baird set a $385.00 price objective on shares of Snap-On in a report on Friday, October 23rd. Tigress Financial upped their price objective on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Roth Capital reissued a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Barclays decreased their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and an average price target of $434.00.

Snap-On Stock Performance

Shares of NYSE SNA opened at $373.30 on Wednesday. The firm’s 50-day moving average price is $368.13 and its 200-day moving average price is $380.27. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The company has a market cap of $19.25 billion, a PE ratio of 19.41, a PEG ratio of 2.66 and a beta of 0.75. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.93 by ($0.29). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 earnings per share. As a group, analysts anticipate that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be given a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This is a positive change from Snap-On’s previous quarterly dividend of $2.44. This represents a $11.00 annualized dividend and a yield of 2.9%. Snap-On’s payout ratio is 50.75%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the sale, the vice president directly owned 1,526 shares of the company’s stock, valued at $610,400. The trade was a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,220 shares of company stock worth $11,704,411 in the last three months. 3.80% of the stock is currently owned by company insiders.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.