ASR Vermogensbeheer N.V. Buys New Stake in Snap-On Incorporated (NYSE:SNA)

Key Points

• ASR Vermogensbeheer N.V. acquired 1,226 shares of Snap-On Incorporated, valued at approximately $413,000, in the 1st quarter as per a recent SEC filing.
• Institutional investors now own 84.88% of Snap-On's shares, indicating a significant level of institutional interest in the company.
• Snap-On has a consensus rating of "Moderate Buy" from analysts, with a target price of $356.17, reflecting positive sentiment towards its stock performance.

ASR Vermogensbeheer N.V. purchased a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,226 shares of the company's stock, valued at approximately $413,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Snap-On during the first quarter valued at approximately $25,000. Golden State Wealth Management LLC increased its stake in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 72 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Snap-On during the first quarter valued at approximately $35,000. Finally, ORG Partners LLC increased its stake in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after buying an additional 95 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Robert W. Baird upped their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Snap-On has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Insider Activity

In other news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,857 shares of company stock worth $16,876,248 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Stock Performance

Snap-On stock traded up $4.38 during trading hours on Tuesday, hitting $325.55. 161,967 shares of the stock traded hands, compared to its average volume of 355,949. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm's 50 day moving average price is $319.10 and its 200-day moving average price is $325.64. The stock has a market capitalization of $16.98 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.23 and a beta of 0.76. Snap-On Incorporated has a 1 year low of $267.95 and a 1 year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. Snap-On's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.07 earnings per share. As a group, equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 45.65%.

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.