Auto Owners Insurance Co Has $353.28 Million Stake in Snap-On Incorporated $SNA

Auto Owners Insurance Co raised its holdings in Snap-On Incorporated (NYSE:SNA) by 34,360.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,025,185 shares of the company’s stock after buying an additional 1,022,210 shares during the period. Auto Owners Insurance Co’s holdings in Snap-On were worth $353,279,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On during the fourth quarter worth approximately $25,000. DV Equities LLC acquired a new position in shares of Snap-On in the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in Snap-On during the 4th quarter worth approximately $28,000. Montag A & Associates Inc. boosted its stake in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Finally, Quattro Advisors LLC acquired a new position in Snap-On in the 4th quarter valued at $35,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SNA shares. Tigress Financial boosted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Roth Mkm reiterated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Barclays began coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Finally, Robert W. Baird increased their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $387.67.

Snap-On Trading Up 0.2%

NYSE SNA opened at $388.01 on Friday. The business’s fifty day moving average is $376.60 and its 200-day moving average is $368.77. 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 has a market capitalization of $20.10 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.72 and a beta of 0.73. Snap-On Incorporated has a one year low of $301.82 and a one year high of $400.88.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.51 EPS. Equities research analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s payout ratio is presently 50.39%.

Snap-On announced that its Board of Directors has approved a share buyback plan on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the transaction, the chief financial officer owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Thomas Miller sold 427 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the transaction, the vice president owned 4,527 shares of the company’s stock, valued at $1,763,492.85. The trade was a 8.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 35,117 shares of company stock valued at $13,192,082. Corporate insiders own 3.80% of the company’s stock.

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.