Allworth Financial LP Has $1.17 Million Holdings in Snap-On Incorporated $SNA

Allworth Financial LP grew its holdings in Snap-On Incorporated (NYSE:SNA) by 638.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,743 shares of the company’s stock after acquiring an additional 3,236 shares during the period. Allworth Financial LP’s holdings in Snap-On were worth $1,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Illinois Municipal Retirement Fund lifted its holdings in Snap-On by 9.9% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 39,212 shares of the company’s stock valued at $12,202,000 after purchasing an additional 3,542 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Snap-On by 6.4% in the second quarter. ProShare Advisors LLC now owns 12,015 shares of the company’s stock valued at $3,739,000 after purchasing an additional 718 shares during the period. Zions Bancorporation National Association UT raised its position in shares of Snap-On by 4.4% in the second quarter. Zions Bancorporation National Association UT now owns 2,587 shares of the company’s stock valued at $805,000 after purchasing an additional 109 shares during the period. Midwest Trust Co acquired a new stake in shares of Snap-On during the 2nd quarter worth about $471,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Snap-On by 433.1% during the 2nd quarter. Acadian Asset Management LLC now owns 41,365 shares of the company’s stock worth $12,866,000 after buying an additional 33,606 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Price Performance

Shares of SNA stock opened at $329.43 on Friday. The business has a fifty day simple moving average of $338.62 and a 200 day simple moving average of $327.07. The company has a market cap of $17.13 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $4.70 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $2.44 per share. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 3.0%. Snap-On’s dividend payout ratio (DPR) is 51.18%.

Analyst Ratings Changes

SNA has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

About Snap-On

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.