Vise Technologies Inc. Makes New $1.37 Million Investment in Snap-On Incorporated $SNA

Key Points

• Vise Technologies purchased 3,403 Snap-On shares worth approximately $1.37 million in the second quarter. Institutional investors collectively own 84.88% of the company.
• Snap-On exceeded quarterly earnings and revenue estimates, reporting $4.96 EPS and $1.24 billion in revenue, with revenue up 4.7% year over year.
• The company authorized a $500 million share-repurchase program and declared a quarterly dividend of $2.44 per share, equivalent to a 2.5% annualized yield. Analysts maintain a “Moderate Buy” consensus with a $426.20 average price target.

Vise Technologies Inc. purchased a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,403 shares of the company's stock, valued at approximately $1,369,000.

Other hedge funds also recently made changes to their positions in the company. DV Equities LLC bought a new position in Snap-On in the 4th quarter worth about $25,000. Western Wealth Management LLC bought a new stake in shares of Snap-On during the first quarter valued at about $29,000. Montag A & Associates Inc. increased its position in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock valued at $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC purchased a new stake in shares of Snap-On in the fourth quarter worth about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted 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 in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Timothy L. Chambers sold 9,111 shares of the firm's 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the sale, the senior vice president directly owned 4,439 shares of the company's stock, valued at $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 45,928 shares of company stock worth $18,483,009. Corporate insiders own 3.80% of the company's stock.

Snap-On Stock Up 0.5%

Shares of NYSE SNA opened at $393.11 on Friday. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.77 and a beta of 0.73. The business has a 50-day moving average of $403.30 and a 200-day moving average of $384.56.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $4.72 earnings per share. Snap-On's quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its board has initiated a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On's dividend payout ratio is presently 49.77%.

Wall Street Analysts Forecast Growth

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

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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