Victory Capital Management Inc. Purchases 216,813 Shares of Snap-On Incorporated $SNA

Victory Capital Management Inc. grew its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 346.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,484 shares of the company’s stock after acquiring an additional 216,813 shares during the period. Victory Capital Management Inc. owned 0.54% of Snap-On worth $96,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Trust Advisors LP lifted its position in shares of Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares during the period. Norges Bank acquired a new position in shares of Snap-On during the second quarter worth approximately $168,010,000. Rakuten Investment Management Inc. bought a new position in shares of Snap-On in the 3rd quarter worth $61,134,000. Laurel Wealth Advisors LLC grew its position in Snap-On by 21,600.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after purchasing an additional 164,166 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Snap-On by 17.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after purchasing an additional 119,089 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Performance

Shares of Snap-On stock opened at $383.51 on Thursday. The business’s fifty day simple moving average is $369.83 and its 200 day simple moving average is $349.10. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The firm has a market capitalization of $19.91 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $4.82 EPS. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a $2.44 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is currently 50.86%.

Analysts Set New Price Targets

SNA has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial lifted their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Robert W. Baird set a $375.00 price target on Snap-On in a report on Friday, February 6th. Finally, Roth Mkm restated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Insider Activity at Snap-On

In other news, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at $7,502,332.40. This represents a 29.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP June C. Lemerand sold 1,378 shares of Snap-On stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,429 shares of company stock valued at $17,598,523 in the last three months. Insiders own 3.90% of the company’s stock.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.