B. Metzler seel. Sohn & Co. AG Takes Position in Snap-On Incorporated $SNA

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 3,233 Snap-On shares during the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 84.88% of the company.
• Snap-On reported quarterly revenue of $1.24 billion and earnings of $4.96 per share, slightly exceeding analyst expectations; revenue increased 4.7% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $426.20 target price. Snap-On also authorized a $500 million share repurchase program and declared a quarterly dividend of $2.44 per share.

B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,233 shares of the company's stock, valued at approximately $1,301,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. BlackRock Inc. acquired a new position in shares of Snap-On in the 2nd quarter valued at about $1,715,363,000. Auto Owners Insurance Co grew its holdings in shares of Snap-On by 34,360.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company's stock valued at $353,279,000 after purchasing an additional 1,022,210 shares during the last quarter. Norges Bank acquired a new stake in shares of Snap-On during the 4th quarter worth approximately $210,814,000. Bank of New York Mellon Corp acquired a new stake in shares of Snap-On during the 2nd quarter worth approximately $174,736,000. Finally, Deutsche Bank AG bought a new stake in shares of Snap-On in the 2nd quarter worth approximately $106,496,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

In related news, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares of the company's stock, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the sale, the chief executive officer owned 867,779 shares of the company's stock, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,928 shares of company stock valued at $18,483,009 in the last ninety days. Corporate insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several recent research reports. Tigress Financial upped their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Friday, July 17th. Roth Capital reissued a "buy" rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Snap-On currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.20.

Snap-On Price Performance

NYSE SNA opened at $393.11 on Monday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. The company has a market cap of $20.34 billion, a PE ratio of 20.05, a PEG ratio of 2.77 and a beta of 0.73. The stock's 50-day moving average price is $403.30 and its two-hundred day moving average price is $384.66.

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

Snap-On declared that its Board of Directors has approved a stock 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 reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership 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 dividend of $2.44 per share. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis 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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