IFM Investors Pty Ltd Raises Holdings in Snap-On Incorporated $SNA

Key Points

• IFM Investors Pty Ltd increased its stake in Snap-On Incorporated by 16.6% during the 2nd quarter, owning 10,079 shares valued at $3,136,000.
• CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock for approximately $7.39 million, reducing his ownership by 2.75%.
• Research analysts have rated Snap-On stock with an average rating of "Moderate Buy" and a consensus target price of $357.00.

IFM Investors Pty Ltd boosted its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 16.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,079 shares of the company's stock after purchasing an additional 1,433 shares during the quarter. IFM Investors Pty Ltd's holdings in Snap-On were worth $3,136,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in shares of Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC increased its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company's stock valued at $34,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last three months. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Robert W. Baird upped their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Stock Up 0.1%

SNA opened at $337.73 on Tuesday. 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 business has a 50 day simple moving average of $327.16 and a 200-day simple moving average of $322.79. The stock has a market capitalization of $17.62 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.35 and a beta of 0.77. Snap-On Incorporated has a 12 month low of $282.71 and a 12 month high of $373.89.

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

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Snap-On Company Profile

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.

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