Federated Hermes Inc. Grows Stock Holdings in Snap-On Incorporated $SNA

Federated Hermes Inc. boosted its holdings in Snap-On Incorporated (NYSE:SNA) by 28.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,734 shares of the company’s stock after purchasing an additional 8,106 shares during the quarter. Federated Hermes Inc.’s holdings in Snap-On were worth $11,431,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tobam acquired a new position in shares of Snap-On during the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On during the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Snap-On in the first quarter valued at approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Up 1.7%

SNA opened at $348.85 on Thursday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $365.78. The business has a 50 day moving average price of $339.69 and a two-hundred day moving average price of $329.51. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market cap of $18.14 billion, a PE ratio of 18.29, a P/E/G ratio of 2.59 and a beta of 0.78.

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

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is currently 51.18%.

Insider Activity

In other news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,257 shares of company stock worth $11,323,424 over the last quarter. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNA shares. Tigress Financial lifted their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Roth Capital restated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $365.00.

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.