Generali Asset Management SPA SGR Invests $2.07 Million in Snap-On Incorporated $SNA

Generali Asset Management SPA SGR acquired a new position in Snap-On Incorporated (NYSE:SNA) during the third quarter, HoldingsChannel.com reports. The fund acquired 5,968 shares of the company’s stock, valued at approximately $2,068,000.

Other large investors have also added to or reduced their stakes in the company. Tobam bought a new position in Snap-On in the second quarter valued at $29,000. Ameritas Advisory Services LLC bought a new stake in Snap-On during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Snap-On in the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on SNA shares. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Robert W. Baird increased their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Finally, Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Five research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Stock Performance

Shares of NYSE SNA opened at $350.85 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $18.25 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.46 and a beta of 0.80. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $365.78. The stock has a 50 day moving average of $343.02 and a 200-day moving average of $333.19.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $4.70 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were given a $2.44 dividend. The ex-dividend date of this dividend was Friday, November 21st. This is a boost from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s payout ratio is currently 51.18%.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is owned by corporate insiders.

About Snap-On

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.