Alpine Woods Capital Investors LLC Acquires Shares of 6,122 Snap-On Incorporated $SNA

Key Points

• Alpine Woods Capital Investors acquired 6,122 Snap-On shares worth approximately $2.46 million, while institutional investors collectively own 84.88% of the company.
• Snap-On insiders sold 23,039 shares valued at $9.33 million over the past quarter, including significant sales by its vice president and CFO under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $426.20. Snap-On also reported quarterly revenue growth of 4.7%, authorized a $500 million share repurchase program, and declared a quarterly dividend of $2.44.

Alpine Woods Capital Investors LLC acquired a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,122 shares of the company's stock, valued at approximately $2,463,000.

Other large investors have also recently made changes to their positions in the company. DV Equities LLC bought a new position in shares of Snap-On during the 4th quarter valued at approximately $25,000. Western Wealth Management LLC bought a new stake in Snap-On in the first quarter worth $29,000. Montag A & Associates Inc. lifted its position in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after buying an additional 73 shares during the last quarter. Quattro Advisors LLC purchased a new position in Snap-On during the fourth quarter worth $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock worth $36,000 after buying an additional 28 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president owned 4,529 shares of the company's stock, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,039 shares of company stock worth $9,334,505 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Roth Capital restated a "buy" rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial raised their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They set an "overweight" rating and a $420.00 target price on the stock. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $426.20.

Snap-On Stock Down 1.3%

Shares of NYSE:SNA opened at $396.13 on Wednesday. Snap-On Incorporated has a 52-week low of $319.20 and a 52-week high of $423.02. The stock has a market cap of $20.49 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. The business's 50 day moving average is $402.75 and its 200 day moving average is $384.13. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $4.72 EPS. Snap-On's quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On's payout ratio is currently 49.77%.

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.

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