Cardinal Capital Management Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Cardinal Capital Management grew its stake in Snap-on Incorporated (NYSE:SNA) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,287 shares of the company’s stock after buying an additional 1,110 shares during the period. Cardinal Capital Management’s holdings in Snap-on were worth $3,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. Janiczek Wealth Management LLC boosted its stake in shares of Snap-on by 27.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 567 shares of the company’s stock valued at $168,000 after purchasing an additional 122 shares in the last quarter. West Coast Financial LLC boosted its stake in shares of Snap-on by 0.3% in the 1st quarter. West Coast Financial LLC now owns 35,315 shares of the company’s stock valued at $10,461,000 after purchasing an additional 107 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Snap-on by 1,327.2% in the 1st quarter. AdvisorNet Financial Inc now owns 1,156 shares of the company’s stock valued at $342,000 after purchasing an additional 1,075 shares in the last quarter. &PARTNERS purchased a new stake in shares of Snap-on in the 1st quarter valued at $248,000. Finally, Rockland Trust Co. purchased a new stake in shares of Snap-on in the 1st quarter valued at $889,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 1.1 %

Shares of Snap-on stock traded down $2.82 during trading on Thursday, hitting $258.91. The company’s stock had a trading volume of 390,757 shares, compared to its average volume of 294,309. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The company has a fifty day simple moving average of $270.82 and a two-hundred day simple moving average of $280.23. The company has a market capitalization of $13.65 billion, a PE ratio of 13.73, a P/E/G ratio of 1.82 and a beta of 0.99. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $4.60 EPS. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts predict that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SNA shares. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Finally, Robert W. Baird dropped their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares of the company’s stock, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,632 shares of company stock valued at $10,353,409. 4.10% of the stock is owned by 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.