Vanguard Group Inc. Acquires 31,073 Shares of Snap-On Incorporated $SNA

Key Points

• Vanguard Group Inc. increased its stake in Snap‑On by 0.5% in Q4, adding 31,073 shares to hold 6,525,488 shares (about 12.55%) valued at roughly $2.249 billion.
• Snap‑On reported Q results with a slight EPS miss ($4.69 vs. $4.75 est.) and revenue of $1.21 billion (up 5.8% year-over-year), and it pays a quarterly dividend of $2.44 ($9.76 annualized, ~2.6% yield).
• Insiders sold 39,650 shares (~$15.21 million) over the last three months, including sales by the CEO and CFO, leaving insiders with about 3.8% ownership.

Vanguard Group Inc. raised its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,525,488 shares of the company's stock after acquiring an additional 31,073 shares during the period. Vanguard Group Inc. owned approximately 12.55% of Snap-On worth $2,248,683,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Snap-On during the 4th quarter valued at $25,000. GoalVest Advisory LLC acquired a new position in shares of Snap-On during the 4th quarter worth about $28,000. SJS Investment Consulting Inc. grew its position in shares of Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company's stock worth $34,000 after buying an additional 94 shares during the period. Quent Capital LLC acquired a new position in shares of Snap-On during the 3rd quarter worth about $36,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Snap-On during the 2nd quarter worth about $48,000. Institutional investors own 84.88% of the company's stock.

Snap-On Trading Up 0.1%

NYSE SNA opened at $377.72 on Thursday. The firm has a market cap of $19.57 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The stock's 50-day moving average is $374.36 and its 200-day moving average is $359.87. Snap-On Incorporated has a one year low of $301.76 and a one year high of $400.88.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 EPS. Sell-side analysts anticipate that Snap-On Incorporated will post 19.81 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio is currently 50.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNA. Wall Street Zen lowered Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Monday, April 20th. Tigress Financial lifted their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Robert W. Baird boosted their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Finally, Roth Mkm restated a "buy" rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $381.20.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,229 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares of the company's stock, valued at $324,538,008.32. This represents a 2.67% 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 7,043 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the sale, the chief financial officer directly owned 117,183 shares of the company's stock, valued at $44,769,765.15. This represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,650 shares of company stock worth $15,210,959 over the last three months. 3.80% of the stock is currently owned by insiders.

Snap-On Company 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.

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