OMERS ADMINISTRATION Corp Acquires 895 Shares of Snap-On Incorporated $SNA

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Snap-On Incorporated by 14.0%, acquiring an additional 895 shares, bringing its total holdings to 7,293 shares valued at approximately $2.46 million.
• Several hedge funds have significantly modified their positions in Snap-On, including Auto Owners Insurance Co, which boosted its holdings by 35,967.2%, now owning over 1 million shares worth about $361.6 million.
• Snap-On's CFO and CEO recently sold shares, with insider sales totaling nearly $16.7 million over the past 90 days, while analysts maintain a consensus rating of "Moderate Buy" on the stock with a target price around $357.00.

OMERS ADMINISTRATION Corp boosted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,293 shares of the company's stock after purchasing an additional 895 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Snap-On were worth $2,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On during the 1st quarter worth $25,000. Golden State Wealth Management LLC lifted its stake in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On during the first quarter valued at $35,000. Finally, ORG Partners LLC increased its position in shares of Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after purchasing an additional 95 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the transaction, the chief financial officer owned 111,721 shares of the company's stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,988 shares of company stock valued at $9,331,916 over the last quarter. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of several research reports. Robert W. Baird raised their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Snap-On has a consensus rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Trading Down 0.5%

Shares of SNA traded down $1.67 during trading hours on Tuesday, reaching $323.57. 232,629 shares of the company traded hands, compared to its average volume of 372,575. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $268.90 and a 12 month high of $373.89. The company's fifty day moving average price is $322.64 and its two-hundred day moving average price is $323.51. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 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.