3,800 Shares in Snap-On Incorporated $SNA Purchased by Polianta Ltd

Key Points

• Polianta Ltd has acquired a new position in Snap-On Incorporated, purchasing 3,800 shares valued at approximately $1.18 million during the second quarter.
• Snap-On's stock currently has a consensus rating of "Moderate Buy" with a target price of $357.00, reflecting positive growth forecasts from multiple analysts.
• The company recently announced a quarterly dividend of $2.14 per share, translating to an annualized yield of 2.6%, indicating continued investor returns.

Polianta Ltd bought a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,800 shares of the company's stock, valued at approximately $1,182,000.

Several other institutional investors have also recently added to or reduced their stakes in SNA. Janus Henderson Group PLC increased its holdings in shares of Snap-On by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,849 shares of the company's stock valued at $1,986,000 after purchasing an additional 120 shares during the period. Lazard Asset Management LLC increased its stake in shares of Snap-On by 14.4% during the 4th quarter. Lazard Asset Management LLC now owns 507 shares of the company's stock valued at $171,000 after acquiring an additional 64 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Snap-On by 0.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,665 shares of the company's stock worth $2,602,000 after acquiring an additional 57 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Snap-On in the fourth quarter worth approximately $587,000. Finally, Rafferty Asset Management LLC grew its holdings in Snap-On by 11.0% in the fourth quarter. Rafferty Asset Management LLC now owns 4,902 shares of the company's stock valued at $1,664,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Price Performance

SNA stock traded down $0.38 during trading hours on Monday, hitting $336.86. 84,337 shares of the stock traded hands, compared to its average volume of 368,275. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $326.79 and a 200 day simple moving average of $322.83. Snap-On Incorporated has a one year low of $282.71 and a one year high of $373.89. The company has a market cap of $17.57 billion, a P/E ratio of 17.99, a P/E/G ratio of 2.35 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly 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. The company had revenue of $1.18 billion for 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 was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.07 earnings per share. Equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent analyst reports. Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Four 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. According to MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $357.00.

Insider Activity at Snap-On

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

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.