Robeco Institutional Asset Management B.V. Sells 54,753 Shares of Snap-On Incorporated $SNA

Key Points

• Robeco Institutional Asset Management B.V. decreased its stake in Snap-On Incorporated by 71.6%, selling 54,753 shares and now holding 21,735 shares valued at approximately $6.76 million.
• Insider trading activity included CEO Nicholas T. Pinchuk selling 23,042 shares for over $7.39 million, while CFO Aldo John Pagliari sold 4,731 shares for roughly $1.55 million, reflecting decreases in their respective ownership.
• The stock's current market cap stands at $18.12 billion, with an average target price set at $357.00 following various analysts' ratings, including changes from Bank of America and Tigress Financial.

Robeco Institutional Asset Management B.V. reduced its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 71.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,735 shares of the company's stock after selling 54,753 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Snap-On were worth $6,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC increased its stake in shares of Snap-On by 421.1% in the first 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. raised its position in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Snap-On during the 1st quarter valued at approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company's stock worth $34,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred 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. 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 is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 over the last quarter. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Tigress Financial lifted their target price on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, September 23rd. 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. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Saturday, September 27th. Five 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Performance

Snap-On stock opened at $347.39 on Monday. Snap-On Incorporated has a fifty-two week low of $284.38 and a fifty-two week 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 cap of $18.12 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. The firm's fifty day moving average price is $329.92 and its 200-day moving average price is $323.60.

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. 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 for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. On average, equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's payout ratio 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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