Rockefeller Capital Management L.P. Grows Stake in Snap-On Incorporated $SNA

Rockefeller Capital Management L.P. lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 21,427 shares of the company’s stock after buying an additional 1,070 shares during the period. Rockefeller Capital Management L.P.’s holdings in Snap-On were worth $6,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC lifted its position in shares of Snap-On by 5.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 3,526 shares of the company’s stock worth $1,188,000 after buying an additional 177 shares during the last quarter. IFP Advisors Inc raised its stake in Snap-On by 22.2% during the 1st quarter. IFP Advisors Inc now owns 1,009 shares of the company’s stock worth $342,000 after acquiring an additional 183 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Snap-On by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,041 shares of the company’s stock valued at $1,362,000 after acquiring an additional 104 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Snap-On by 80.1% in the first quarter. Allianz Asset Management GmbH now owns 40,078 shares of the company’s stock valued at $13,507,000 after acquiring an additional 17,819 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Snap-On by 36.0% during the first quarter. HighPoint Advisor Group LLC now owns 1,236 shares of the company’s stock worth $383,000 after purchasing an additional 327 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Performance

Shares of SNA opened at $331.26 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The stock has a market capitalization of $17.23 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.33 and a beta of 0.81. The company’s fifty day moving average is $338.92 and its two-hundred day moving average is $327.54. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned $4.70 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a 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 presently 51.18%.

Wall Street Analyst Weigh In

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