Midwest Trust Co Takes $471,000 Position in Snap-On Incorporated $SNA

Midwest Trust Co purchased a new position in Snap-On Incorporated (NYSE:SNA) during the second quarter, Holdings Channel.com reports. The firm purchased 1,514 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Ameritas Advisory Services LLC acquired a new stake in shares of Snap-On during the second quarter valued at approximately $30,000. Ransom Advisory Ltd acquired a new stake in Snap-On during the 1st quarter valued at $34,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after buying an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. acquired a new position in Snap-On during the second quarter valued at $45,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Roth Capital reissued a “buy” rating and set a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the transaction, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by company insiders.

Snap-On Trading Down 0.1%

Shares of SNA stock opened at $342.98 on Wednesday. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The company has a market cap of $17.84 billion, a PE ratio of 17.99, a price-to-earnings-growth 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. The business’s 50 day moving average is $338.06 and its two-hundred day moving average is $326.76.

Snap-On (NYSE:SNA) last posted 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. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $4.70 EPS. Equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is currently 51.18%.

Snap-On 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.