Charles Schwab Investment Management Inc. Has $360.22 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Charles Schwab Investment Management Inc. increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,249,945 shares of the company’s stock after buying an additional 43,887 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Snap-on were worth $360,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. Clear Street Markets LLC increased its stake in shares of Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the last quarter. Spire Wealth Management boosted its holdings in Snap-on by 50.0% in the first quarter. Spire Wealth Management now owns 144 shares of the company’s stock valued at $36,000 after acquiring an additional 48 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Snap-on in the first quarter worth about $40,000. Finally, WASHINGTON TRUST Co raised its holdings in Snap-on by 100.0% during the 2nd quarter. WASHINGTON TRUST Co now owns 140 shares of the company’s stock worth $40,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 83.90% of the company’s stock.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total value of $1,269,233.46. Following the completion of the sale, the chief financial officer now owns 86,888 shares in the company, valued at approximately $22,775,951.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 22,078 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $258.16, for a total transaction of $5,699,656.48. Following the completion of the sale, the chief executive officer now owns 697,506 shares of the company’s stock, valued at $180,068,148.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,842 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the transaction, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Snap-on Trading Down 0.1 %

NYSE SNA opened at $274.72 on Friday. The company has a current ratio of 3.67, a quick ratio of 2.62 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $259.43 and a 200-day moving average of $266.28. Snap-on Incorporated has a 12 month low of $220.21 and a 12 month high of $297.26. The company has a market cap of $14.50 billion, a PE ratio of 14.91, a PEG ratio of 1.86 and a beta of 1.06.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 19th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.07. Snap-on had a return on equity of 21.20% and a net margin of 21.21%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $4.14 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Snap-on Incorporated will post 18.62 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, November 20th. This is a boost from Snap-on’s previous quarterly dividend of $1.62. Snap-on’s payout ratio is currently 35.18%.

Analyst Ratings Changes

A number of research firms have commented on SNA. Robert W. Baird lifted their target price on shares of Snap-on from $270.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, October 19th. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday, July 24th. StockNews.com initiated coverage on Snap-on in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Tigress Financial increased their price target on Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $298.17.

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.