Jacobs Levy Equity Management Inc. Makes New $1.99 Million Investment in Snap-On Incorporated $SNA

Key Points

• Jacobs Levy Equity Management Inc. has initiated a new position in Snap-On Incorporated, acquiring 5,892 shares valued at approximately $1.986 million in the first quarter.
• Several large investors, including Gotham Asset Management and Hancock Whitney Corp, have increased their stakes in Snap-On, contributing to institutional investors owning 84.88% of the company's stock.
• Snap-On's CEO Nicholas T. Pinchuk and CFO Aldo John Pagliari recently sold shares, with the CEO's sale worth about $7.39 million, reflecting a decrease in their ownership positions.

Jacobs Levy Equity Management Inc. bought a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,892 shares of the company's stock, valued at approximately $1,986,000.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Focus Partners Wealth lifted its position in shares of Snap-On by 2.5% during the fourth quarter. Focus Partners Wealth now owns 18,117 shares of the company's stock worth $6,152,000 after purchasing an additional 440 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Snap-On by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,849 shares of the company's stock worth $1,986,000 after purchasing an additional 120 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC bought a new stake in shares of Snap-On during the fourth quarter worth $229,000. Lazard Asset Management LLC lifted its position in shares of Snap-On by 14.4% during the fourth quarter. Lazard Asset Management LLC now owns 507 shares of the company's stock worth $171,000 after purchasing an additional 64 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Snap-On by 0.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,665 shares of the company's stock worth $2,602,000 after purchasing an additional 57 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Up 0.5%

SNA traded up $1.72 on Friday, hitting $333.70. The company had a trading volume of 414,001 shares, compared to its average volume of 207,518. The stock has a fifty day moving average price of $324.94 and a 200-day moving average price of $322.84. Snap-On Incorporated has a 12-month low of $278.75 and a 12-month high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.31 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $5.07 earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's payout ratio is 45.65%.

Analyst Ratings Changes

Several equities analysts have recently commented on SNA shares. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $357.00.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company's stock.

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.