SG Americas Securities LLC Raises Holdings in Snap-On Incorporated $SNA

SG Americas Securities LLC lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 211.2% in the 3rd quarter, Holdings Channel reports. The fund owned 16,947 shares of the company’s stock after buying an additional 11,502 shares during the quarter. SG Americas Securities LLC’s holdings in Snap-On were worth $5,873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after purchasing an additional 80,422 shares during the period. State Street Corp boosted its holdings in Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after buying an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Snap-On by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after buying an additional 36,421 shares in the last quarter. First Trust Advisors LP raised its holdings in Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snap-On during the second quarter worth $434,938,000. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNA has been the subject of several recent research reports. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial lifted their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president directly owned 4,158 shares in the company, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is currently owned by insiders.

Snap-On Stock Performance

NYSE:SNA opened at $362.29 on Friday. The stock has a market cap of $18.84 billion, a P/E ratio of 19.00, a PEG ratio of 2.54 and a beta of 0.80. 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 business’s 50-day moving average price is $344.77 and its two-hundred day moving average price is $334.95. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $366.17.

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, topping the consensus estimate 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 net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.70 earnings per share. As a group, equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were given a dividend of $2.44 per share. This is an increase from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s dividend payout ratio is 51.18%.

Snap-On Company 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.