Hilltop Holdings Inc. Buys New Stake in Snap-on Incorporated (SNA)
Hilltop Holdings Inc. bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,954 shares of the company’s stock, valued at approximately $475,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its position in Snap-on by 1.4% during the second quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after buying an additional 53,689 shares during the period. Principal Financial Group Inc. grew its position in Snap-on by 3.4% during the first quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after buying an additional 34,012 shares during the period. Earnest Partners LLC grew its position in Snap-on by 3.8% during the second quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after buying an additional 37,244 shares during the period. Northern Trust Corp grew its position in Snap-on by 0.8% during the first quarter. Northern Trust Corp now owns 957,476 shares of the company’s stock worth $141,266,000 after buying an additional 8,067 shares during the period. Finally, Ariel Investments LLC lifted its holdings in shares of Snap-on by 10.0% in the second quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock valued at $149,459,000 after purchasing an additional 84,287 shares in the last quarter.
Shares of NYSE SNA opened at $186.43 on Thursday. Snap-on Incorporated has a 12-month low of $141.63 and a 12-month high of $187.07. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The company has a current ratio of 2.33, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, August 16th. Snap-on’s payout ratio is 32.41%.
Several brokerages have issued reports on SNA. Barrington Research reaffirmed a “buy” rating and issued a $200.00 price target on shares of Snap-on in a report on Monday, August 20th. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating and set a $192.00 price target on the stock in a report on Monday, July 23rd. Northcoast Research downgraded shares of Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Finally, B. Riley set a $205.00 price target on shares of Snap-on and gave the company a “buy” rating in a report on Tuesday, July 17th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $192.75.
In related news, SVP Aldo John Pagliari sold 6,480 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total transaction of $1,152,727.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,921 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $157.88, for a total transaction of $3,460,887.48. The disclosure for this sale can be found here. Insiders have sold 89,816 shares of company stock worth $15,120,752 in the last three months. Insiders own 4.00% of the company’s stock.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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