Sanctuary Advisors LLC bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 37,347 shares of the company's stock, valued at approximately $15,028,000. Sanctuary Advisors LLC owned approximately 0.07% of Snap-On as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. DV Equities LLC acquired a new stake in Snap-On during the 4th quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter worth about $29,000. Montag A & Associates Inc. grew its holdings in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after acquiring an additional 73 shares during the period. Quattro Advisors LLC acquired a new stake in Snap-On during the fourth quarter worth about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock valued at $36,000 after acquiring an additional 28 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.
Insider Buying and Selling
In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares of the company's stock, valued at $346,842,588.51. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the sale, the senior vice president owned 21,223 shares in the company, valued at $8,900,077.28. This represents a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,928 shares of company stock valued at $18,483,009 in the last ninety days. Company insiders own 3.80% of the company's stock.
Snap-On Stock Performance
NYSE SNA opened at $393.11 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The stock's 50 day simple moving average is $403.30 and its 200-day simple moving average is $384.66. The company has a market cap of $20.34 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. Snap-On Incorporated has a 1-year low of $319.20 and a 1-year high of $423.02.
Snap-On (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $4.72 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.
Snap-On declared that its board has approved a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.5% 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.
Snap-On Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Snap-On's dividend payout ratio is presently 49.77%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on SNA shares. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Friday, July 17th. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They set an "overweight" rating and a $420.00 target price for the company. Roth Capital reiterated a "buy" rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial increased their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $415.00 price target on shares of Snap-On in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $426.20.
Check Out Our Latest Research Report on SNA
About Snap-On
(
Free Report)
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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