Snap-on Incorporated (NYSE:SNA) is Confluence Investment Management LLC’s 10th Largest Position

Confluence Investment Management LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 0.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 659,919 shares of the company’s stock after acquiring an additional 5,007 shares during the quarter. Snap-on makes up about 2.0% of Confluence Investment Management LLC’s investment portfolio, making the stock its 10th biggest position. Confluence Investment Management LLC’s holdings in Snap-on were worth $130,024,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SNA. J.W. Cole Advisors Inc. purchased a new stake in shares of Snap-on during the 1st quarter worth approximately $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Snap-on during the 1st quarter worth approximately $27,000. Parkside Financial Bank & Trust lifted its position in shares of Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Zullo Investment Group Inc. lifted its position in shares of Snap-on by 391.7% during the 1st quarter. Zullo Investment Group Inc. now owns 177 shares of the company’s stock worth $36,000 after buying an additional 141 shares during the last quarter. Finally, Bromfield Sneider Wealth Advisors purchased a new stake in shares of Snap-on during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Snap-on Stock Performance

Shares of Snap-on stock opened at $215.46 on Monday. The firm’s fifty day simple moving average is $218.46 and its 200-day simple moving average is $213.54. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.70 and a beta of 1.11. Snap-on Incorporated has a 12 month low of $190.08 and a 12 month high of $235.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.37.

Snap-on (NYSE:SNAGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.91 by $0.36. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. Snap-on’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.76 EPS. As a group, equities analysts forecast that Snap-on Incorporated will post 16.14 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 2.64%. Snap-on’s dividend payout ratio is currently 35.63%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,607 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total value of $1,453,804.28. Following the transaction, the chief financial officer now directly owns 73,114 shares of the company’s stock, valued at approximately $16,088,004.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jesus Arregui sold 488 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $223.31, for a total transaction of $108,975.28. Following the transaction, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at approximately $537,953.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,607 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the transaction, the chief financial officer now directly owns 73,114 shares in the company, valued at $16,088,004.56. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SNA shares. UBS Group cut their target price on shares of Snap-on to $175.00 in a report on Friday, July 22nd. MKM Partners started coverage on shares of Snap-on in a report on Thursday, June 9th. They issued a “neutral” rating and a $238.00 target price on the stock.

Snap-on Company Profile

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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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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