Advisor Group Inc. grew its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,810 shares of the company’s stock after acquiring an additional 658 shares during the quarter. Advisor Group Inc.’s holdings in Snap-On were worth $895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Snap-On by 2,077.9% in the 1st quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock valued at $613,657,000 after purchasing an additional 3,471,155 shares in the last quarter. Boston Partners bought a new stake in shares of Snap-On during the 2nd quarter valued at approximately $100,171,000. Alliancebernstein L.P. grew its holdings in shares of Snap-On by 428.7% during the 1st quarter. Alliancebernstein L.P. now owns 547,616 shares of the company’s stock valued at $92,366,000 after purchasing an additional 444,039 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of Snap-On during the 1st quarter valued at approximately $73,371,000. Finally, Schroder Investment Management Group grew its holdings in shares of Snap-On by 148.4% during the 1st quarter. Schroder Investment Management Group now owns 713,988 shares of the company’s stock valued at $120,172,000 after purchasing an additional 426,521 shares during the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Iain Boyd sold 18,418 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Ann M. Gillis acquired 265 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

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Shares of Snap-On Incorporated (SNA) opened at 149.01 on Monday. The stock’s 50 day moving average price is $148.41 and its 200 day moving average price is $159.16. Snap-On Incorporated has a 12-month low of $140.83 and a 12-month high of $181.73. The company has a market capitalization of $8.58 billion, a PE ratio of 15.43 and a beta of 1.05.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The business had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. Snap-On’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 earnings per share. On average, equities research analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, August 16th. Snap-On’s dividend payout ratio (DPR) is presently 29.34%.

Snap-On announced that its board has authorized a stock repurchase program on Monday, August 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of equities analysts recently issued reports on SNA shares. FBR & Co set a $205.00 price objective on shares of Snap-On and gave the stock a “buy” rating in a research report on Friday, July 21st. BidaskClub lowered shares of Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Longbow Research cut shares of Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 target price on shares of Snap-On in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $197.86.

Snap-On Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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