Federated Hermes Inc. Has $4.62 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Federated Hermes Inc. lifted its position in Snap-on Incorporated (NYSE:SNA) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,673 shares of the company’s stock after buying an additional 69 shares during the quarter. Federated Hermes Inc.’s holdings in Snap-on were worth $4,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SNA. Quadrant Capital Group LLC lifted its position in Snap-on by 17.7% during the 4th quarter. Quadrant Capital Group LLC now owns 539 shares of the company’s stock worth $156,000 after acquiring an additional 81 shares during the last quarter. TrinityPoint Wealth LLC lifted its position in shares of Snap-on by 8.0% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock worth $1,078,000 after purchasing an additional 276 shares during the last quarter. ING Groep NV boosted its stake in Snap-on by 19.2% during the 4th quarter. ING Groep NV now owns 3,626 shares of the company’s stock valued at $1,047,000 after purchasing an additional 583 shares during the period. Norges Bank acquired a new stake in Snap-on in the 4th quarter valued at approximately $145,665,000. Finally, UBS Group AG increased its position in Snap-on by 37.2% in the 4th quarter. UBS Group AG now owns 138,803 shares of the company’s stock worth $40,092,000 after buying an additional 37,667 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,804 shares of company stock worth $8,077,390. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.2 %

SNA opened at $280.66 on Thursday. The company has a market capitalization of $14.80 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.93 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm’s fifty day moving average price is $276.59 and its two-hundred day moving average price is $276.62. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.89 EPS. On average, analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its board has authorized a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.65%. Snap-on’s dividend payout ratio is currently 39.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNA. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird cut their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $315.00.

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.