MML Investors Services LLC Buys 9,053 Shares of Snap-On Incorporated $SNA

Key Points

• MML Investors Services LLC increased its Snap-On stake by 7.2% in the fourth quarter, buying 9,053 additional shares to bring its total holdings to 134,061 shares valued at about $46.2 million.
• Analysts remain generally positive on Snap-On, with a consensus rating of Moderate Buy and an average price target of $387.67. Several firms recently reiterated or raised bullish targets, including Roth Mkm, Tigress Financial, and Barclays.
• Snap-On reported quarterly EPS of $4.69, slightly below expectations, while revenue of $1.21 billion topped estimates. The company also paid a $2.44 quarterly dividend and approved a $500 million share repurchase plan.

MML Investors Services LLC raised its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,061 shares of the company's stock after acquiring an additional 9,053 shares during the quarter. MML Investors Services LLC owned approximately 0.26% of Snap-On worth $46,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Snap-On by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company's stock worth $2,248,683,000 after purchasing an additional 31,073 shares in the last quarter. State Street Corp raised its stake in shares of Snap-On by 1.3% during the 4th quarter. State Street Corp now owns 2,272,041 shares of the company's stock valued at $782,945,000 after buying an additional 28,071 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-On by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company's stock valued at $693,306,000 after buying an additional 39,765 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Snap-On by 2.7% during the 4th quarter. First Trust Advisors LP now owns 1,967,608 shares of the company's stock valued at $678,038,000 after buying an additional 51,037 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock valued at $454,206,000 after buying an additional 51,486 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

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

Snap-On Stock Down 0.2%

SNA stock opened at $386.69 on Tuesday. The firm has a market cap of $20.03 billion, a PE ratio of 19.96, a PEG ratio of 2.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The firm's 50 day moving average price is $375.26 and its 200-day moving average price is $367.67. Snap-On Incorporated has a one year low of $301.82 and a one year high of $400.88.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion for 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%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On's payout ratio is presently 50.39%.

Snap-On declared that its board has approved a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the business'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 sale, the chief executive officer owned 856,918 shares of the company's stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, VP Richard Thomas Miller sold 427 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the sale, the vice president directly owned 4,527 shares in the company, valued at $1,763,492.85. This represents a 8.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,117 shares of company stock worth $13,192,082 in the last ninety days. 3.80% of the stock is owned by company insiders.

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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