Johnson Financial Group Inc. Decreases Stock Position in Snap-On Incorporated $SNA

Johnson Financial Group Inc. decreased its position in Snap-On Incorporated (NYSE:SNA) by 77.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 608 shares of the company’s stock after selling 2,087 shares during the quarter. Johnson Financial Group Inc.’s holdings in Snap-On were worth $189,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SNA. HB Wealth Management LLC grew its holdings in Snap-On by 73.3% during the 1st quarter. HB Wealth Management LLC now owns 1,489 shares of the company’s stock valued at $502,000 after purchasing an additional 630 shares in the last quarter. LPL Financial LLC grew its stake in shares of Snap-On by 2.4% during the first quarter. LPL Financial LLC now owns 75,537 shares of the company’s stock valued at $25,457,000 after acquiring an additional 1,773 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Snap-On by 66.9% during the first quarter. Mackenzie Financial Corp now owns 10,211 shares of the company’s stock worth $3,441,000 after acquiring an additional 4,092 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of Snap-On by 35.0% in the first quarter. Meeder Advisory Services Inc. now owns 1,381 shares of the company’s stock worth $465,000 after acquiring an additional 358 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Snap-On by 63.7% in the first quarter. Federated Hermes Inc. now owns 28,628 shares of the company’s stock valued at $9,648,000 after purchasing an additional 11,136 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In related news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the transaction, the senior vice president owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Snap-On Stock Down 0.1%

SNA stock opened at $340.19 on Friday. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $371.98. The firm has a fifty day moving average price of $339.23 and a two-hundred day moving average price of $328.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.16 billion. During the same period last year, the firm posted $4.70 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.9%. 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 payout ratio is currently 51.18%.

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.