Leith Wheeler Investment Counsel Ltd. Purchases 110,976 Shares of Snap-On Incorporated $SNA

Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 346.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 142,981 shares of the company’s stock after acquiring an additional 110,976 shares during the period. Snap-On accounts for about 2.6% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 14th biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in Snap-On were worth $44,493,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SNA. Alpine Bank Wealth Management bought a new stake in Snap-On in the first quarter worth $25,000. Ameritas Advisory Services LLC bought a new stake in Snap-On in the second quarter worth $30,000. Golden State Wealth Management LLC boosted its holdings in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in Snap-On in the first quarter worth $34,000. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Down 1.4%

Shares of NYSE:SNA opened at $327.21 on Monday. The company has a market cap of $17.07 billion, a P/E ratio of 17.45, a PEG ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. Snap-On Incorporated has a 1 year low of $287.44 and a 1 year high of $373.89. The stock’s fifty day moving average price is $331.20 and its 200-day moving average price is $323.62.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $5.07 earnings per share. The company’s quarterly revenue was up .0% 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. Snap-On’s dividend payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America boosted their target price on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Robert W. Baird upped their price target on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, Tigress Financial upped their price target on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a report on Friday, August 29th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.00.

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.