The Manufacturers Life Insurance Company Acquires New Position in Snap-On Incorporated $SNA

Key Points

• The Manufacturers Life Insurance Company acquired 31,992 Snap-On shares worth approximately $12.9 million in the second quarter, while institutional investors collectively owned 84.88% of the company.
• Snap-On exceeded quarterly earnings and revenue expectations, reporting $4.96 EPS and $1.24 billion in revenue, with sales up 4.7% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $426.20.
• Snap-On declared a quarterly dividend of $2.44, equivalent to a 2.5% annualized yield, while insiders sold roughly $18.8 million in stock over the last quarter, primarily through pre-arranged Rule 10b5-1 plans.

The Manufacturers Life Insurance Company bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,992 shares of the company's stock, valued at approximately $12,874,000. The Manufacturers Life Insurance Company owned about 0.06% of Snap-On at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DV Equities LLC purchased a new stake in shares of Snap-On in the 4th quarter valued at $25,000. Western Wealth Management LLC purchased a new position in Snap-On in the 1st quarter worth $29,000. Montag A & Associates Inc. lifted its stake in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Quattro Advisors LLC bought a new position in shares of Snap-On during the fourth quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock worth $36,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Key Headlines Impacting Snap-On

Here are the key news stories impacting Snap-On this week:

• Positive Sentiment: Snap-on extended its title sponsorship of the IndyCar weekend at Milwaukee Mile, continuing its visibility across IndyCar, NASCAR and other motorsports events. The partnership may support brand awareness and customer engagement among professional automotive technicians, although financial terms were not disclosed. Snap-on extends title sponsorship of IndyCar races at Milwaukee Mile
• Neutral Sentiment: Coverage of Snap-on’s sponsorship strategy highlights the company’s long-standing use of IndyCar, NASCAR and Milwaukee Mile partnerships to promote its “Makers and Fixers” brand. The initiatives could strengthen the company’s marketing reach, but they are primarily branding developments rather than new revenue or earnings guidance. What drives Snap-on's sponsorships of IndyCar, NASCAR and Milwaukee Mile
• Neutral Sentiment: Josef Newgarden was listed as the favorite for the 2026 Snap-on Makers and Fixers 250. The betting coverage provides additional publicity for the event but has no direct implication for Snap-on’s operating results. 2026 INDYCAR Odds: Josef Newgarden Favored For Snap-on Makers And Fixers 250
• Negative Sentiment: Vice President Marty Ozolins sold 800 shares for approximately $320,000, reducing his direct holdings by 34.39%. Because the sale was conducted under a pre-arranged Rule 10b5-1 plan, it is less concerning than an unexpected discretionary sale, but insider selling can still weigh on sentiment. Snap-On VP Marty Ozolins Sells 800 Shares of Stock

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SNA shares. Tigress Financial boosted their target price on Snap-On from $445.00 to $485.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Barclays started coverage on Snap-On in a research note on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price target on the stock. Robert W. Baird set a $415.00 price objective on Snap-On in a research report on Friday, July 24th. Roth Capital reissued a "buy" rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $426.20.

Snap-On Stock Performance

Shares of NYSE:SNA opened at $391.93 on Friday. The company has a market cap of $20.27 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.73. The company has a 50-day moving average price of $404.14 and a 200-day moving average price of $385.27. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period last year, the firm earned $4.72 earnings per share. Snap-On's quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio (DPR) is 49.77%.

Insider Transactions at Snap-On

In related news, VP Marty V. Ozolins sold 800 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the completion of the sale, the vice president owned 1,526 shares of the company's stock, valued at $610,400. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $3,820,788.96. Following the completion of the sale, the senior vice president owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 46,728 shares of company stock worth $18,803,009. Corporate insiders own 3.80% of the company's stock.

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.

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source