Bahl & Gaynor Inc. Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Bahl & Gaynor Inc. lifted its position in Snap-on Incorporated (NYSE:SNA) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 201,329 shares of the company’s stock after acquiring an additional 4,324 shares during the period. Bahl & Gaynor Inc. owned 0.38% of Snap-on worth $52,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Snap-on by 10.2% during the fourth quarter. BNP Paribas Financial Markets now owns 26,894 shares of the company’s stock valued at $7,768,000 after buying an additional 2,499 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in Snap-on by 171.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 911 shares of the company’s stock worth $263,000 after acquiring an additional 576 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Snap-on during the fourth quarter worth about $219,000. Dimensional Fund Advisors LP grew its holdings in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after purchasing an additional 3,449 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in shares of Snap-on by 2.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock valued at $529,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of SNA opened at $275.74 on Wednesday. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a market capitalization of $14.53 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The firm has a 50 day moving average of $273.94 and a 200 day moving average of $276.43. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.89 EPS. As a group, equities research analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on declared that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

SNA has been the topic of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird dropped their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $315.00.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,804 shares of company stock worth $8,077,390. Company insiders own 4.10% of the company’s stock.

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.