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

Bahl & Gaynor Inc. raised its position in Snap-on Incorporated (NYSE:SNA) by 36.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,558 shares of the company’s stock after purchasing an additional 76,317 shares during the quarter. Bahl & Gaynor Inc. owned 0.55% of Snap-on worth $97,281,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Snap-on during the 4th quarter valued at about $57,738,000. Benjamin Edwards Inc. increased its position in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after acquiring an additional 152,428 shares during the period. Nordea Investment Management AB raised its stake in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in Snap-on by 706.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock worth $38,474,000 after acquiring an additional 99,276 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock valued at $74,586,000 after purchasing an additional 80,421 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $345.40.

Insiders Place Their Bets

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,503 shares of company stock worth $15,906,074. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $333.45 on Tuesday. The firm has a 50-day moving average of $343.25 and a two-hundred day moving average of $326.29. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the business earned $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.57%. Snap-on’s dividend payout ratio is currently 43.90%.

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.