Bank of New York Mellon Corp raised its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,649 shares of the company's stock after purchasing an additional 104,296 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of Snap-On worth $150,124,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On during the 4th quarter valued at about $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On in the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. grew its stake in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew 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 valued at $36,000 after acquiring an additional 28 shares in the last quarter. Finally, United Community Bank bought a new stake in Snap-On during the 4th quarter worth approximately $43,000. Institutional investors own 84.88% of the company's stock.
Insider Activity at Snap-On
In related news, CFO Aldo John Pagliari sold 5,713 shares of Snap-On stock in a transaction 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 transaction, the chief financial officer directly owned 119,488 shares of the company's stock, valued at $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares of the company's stock, valued at $322,004,076.86. The trade was a 2.66% 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 sold 30,439 shares of company stock worth $11,393,700 in the last 90 days. Company insiders own 3.80% of the company's stock.
Snap-On Stock Up 0.2%
Shares of SNA opened at $379.67 on Friday. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The stock has a 50 day simple moving average of $372.58 and a two-hundred day simple moving average of $365.28. The firm has a market cap of $19.67 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.67 and a beta of 0.73.
Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company posted $4.51 EPS. On average, analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.
Snap-On announced that its board has authorized a stock repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.
Snap-On Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a $2.44 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio (DPR) is currently 50.39%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on SNA shares. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective on the stock. Wall Street Zen lowered Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Robert W. Baird raised their price target on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Roth Mkm reiterated a "buy" rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.67.
Read Our Latest Research Report on Snap-On
Snap-On Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Snap-On, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snap-On wasn't on the list.
While Snap-On currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
