Bahl & Gaynor Inc. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Bahl & Gaynor Inc. lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 29.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 157,796 shares of the company’s stock after purchasing an additional 35,731 shares during the period. Bahl & Gaynor Inc.’s holdings in Snap-on were worth $45,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SNA. Avantax Planning Partners Inc. grew its holdings in Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after buying an additional 38 shares during the last quarter. Phoenix Wealth Advisors boosted its holdings in shares of Snap-on by 3.1% during the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after purchasing an additional 40 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Snap-on by 2.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock worth $570,000 after purchasing an additional 48 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Snap-on by 5.3% during the fourth quarter. Ballentine Partners LLC now owns 948 shares of the company’s stock worth $274,000 after purchasing an additional 48 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the sale, the chief financial officer now directly owns 95,661 shares in the company, valued at $26,014,052.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,930 shares of company stock worth $14,089,523. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SNA shares. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. Robert W. Baird cut their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Stock Performance

SNA opened at $270.70 on Friday. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The stock has a market cap of $14.27 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The business’s 50 day moving average is $284.28 and its 200-day moving average is $278.74. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.60 EPS. On average, analysts predict that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s payout ratio is currently 39.03%.

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.