Alps Advisors Inc. Purchases 71,463 Shares of Snap-On Incorporated $SNA

Key Points

• Alps Advisors Inc. boosted its Snap-On stake by 852.4% in the fourth quarter, buying 71,463 additional shares and ending with 79,847 shares worth about $27.5 million.
• Wall Street sentiment on Snap-On is broadly positive, with analysts assigning a Moderate Buy consensus and an average price target of $387.67.
• Snap-On recently paid a $2.44 quarterly dividend and authorized a $500 million share buyback, while insiders including the CEO and CFO sold shares in pre-arranged transactions.

Alps Advisors Inc. raised its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 852.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,847 shares of the company's stock after purchasing an additional 71,463 shares during the quarter. Alps Advisors Inc. owned 0.15% of Snap-On worth $27,515,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company's stock worth $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP raised its position in shares of Snap-On by 40.4% during the first quarter. Woodline Partners LP now owns 4,426 shares of the company's stock worth $1,492,000 after acquiring an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Snap-On by 100.9% during the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company's stock worth $144,000 after acquiring an additional 233 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company's stock worth $545,000 after acquiring an additional 434 shares during the last quarter. Finally, Natixis raised its position in shares of Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company's stock worth $948,000 after acquiring an additional 1,761 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of analyst reports. Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They set an "overweight" rating and a $420.00 price objective for the company. Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Roth Mkm reaffirmed a "buy" rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $387.67.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer owned 119,488 shares in the company, valued at $43,874,798.72. This represents a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,117 shares of company stock worth $13,192,082 over the last three months. Company insiders own 3.80% of the company's stock.

Snap-On Trading Up 1.8%

Shares of Snap-On stock opened at $385.10 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a 52 week low of $301.82 and a 52 week high of $400.88. The stock has a 50 day moving average price of $374.44 and a two-hundred day moving average price of $366.97. The stock has a market capitalization of $19.95 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $4.51 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On's dividend payout ratio (DPR) is currently 50.39%.

Snap-On announced that its Board of Directors has approved a share buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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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