Wilmington Savings Fund Society FSB Raises Stake in Snap-On Incorporated $SNA

Key Points

• Wilmington Savings Fund Society FSB increased its stake in Snap-On Incorporated by 102.9% during the second quarter, owning 2,842 shares worth $884,000 as of its latest filing.
• Insider sales included CFO Aldo John Pagliari selling 4,731 shares for approximately $1.55 million and CEO Nicholas T. Pinchuk selling 23,042 shares for about $7.39 million, reflecting a decrease in their ownership stakes.
• Snap-On's stock is currently trading at around $343.12, with analysts setting a consensus target price of $357.00 and five out of seven research analysts rating it as a "Buy."

Wilmington Savings Fund Society FSB boosted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 102.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,842 shares of the company's stock after buying an additional 1,441 shares during the period. Wilmington Savings Fund Society FSB's holdings in Snap-On were worth $884,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Choreo LLC boosted its position in Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company's stock valued at $2,432,000 after buying an additional 3,170 shares during the last quarter. Advisors Capital Management LLC boosted its position in Snap-On by 5.3% in the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company's stock valued at $418,000 after buying an additional 63 shares during the last quarter. Jump Financial LLC boosted its position in Snap-On by 367.7% in the first quarter. Jump Financial LLC now owns 5,523 shares of the company's stock valued at $1,861,000 after buying an additional 4,342 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Snap-On in the first quarter valued at approximately $1,986,000. Finally, Ascent Group LLC purchased a new stake in Snap-On in the first quarter valued at approximately $421,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the company'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 transaction, the chief financial officer directly owned 111,667 shares of the company's stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company's stock.

Snap-On Trading Up 3.2%

Shares of SNA stock opened at $343.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.31 and a beta of 0.78. The stock has a 50 day simple moving average of $332.41 and a 200-day simple moving average of $323.83. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, October 16th. The company reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.43. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.70 EPS. On average, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's dividend payout ratio is presently 45.65%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Tigress Financial upped their target price on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America upped their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Finally, Robert W. Baird upped their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Snap-On currently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

About Snap-On

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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