Snap-On Incorporated $SNA Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,495,475 shares of the company’s stock after buying an additional 80,422 shares during the period. Vanguard Group Inc. owned about 12.45% of Snap-On worth $2,021,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. Empowered Funds LLC raised its stake in shares of Snap-On by 85.8% in the second quarter. Empowered Funds LLC now owns 52,375 shares of the company’s stock valued at $16,298,000 after acquiring an additional 24,182 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Snap-On by 5.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 25,259 shares of the company’s stock valued at $7,860,000 after purchasing an additional 1,205 shares in the last quarter. PAX Financial Group LLC boosted its stake in shares of Snap-On by 5.4% in the 2nd quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock valued at $206,000 after buying an additional 34 shares during the period. Westpac Banking Corp increased its stake in shares of Snap-On by 94.3% during the second quarter. Westpac Banking Corp now owns 14,635 shares of the company’s stock worth $4,554,000 after buying an additional 7,103 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new position in Snap-On during the 2nd quarter worth approximately $360,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird increased their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Tigress Financial increased their price target 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. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Stock Up 1.5%

SNA stock opened at $336.07 on Friday. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a fifty day moving average price of $338.96 and a 200 day moving average price of $327.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $4.70 EPS. Snap-On’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $2.44 per share. 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 2.9%. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio is 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.