SG Americas Securities LLC Buys 6,320 Shares of Snap-On Incorporated $SNA

SG Americas Securities LLC lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 78.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,374 shares of the company’s stock after buying an additional 6,320 shares during the quarter. SG Americas Securities LLC’s holdings in Snap-On were worth $5,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On during the fourth quarter worth approximately $25,000. DV Equities LLC bought a new position in shares of Snap-On during the fourth quarter worth 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. lifted its holdings in Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC bought a new stake in Snap-On in the 4th quarter valued at $35,000. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research report 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 initiated coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

Snap-On Price Performance

Snap-On stock opened at $397.52 on Monday. The firm has a market cap of $20.59 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. 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 fifty day moving average price is $378.13 and its two-hundred day moving average price is $370.69. Snap-On Incorporated has a one year low of $307.47 and a one year high of $403.35.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $4.51 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal 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 issued a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,117 shares of company stock valued at $13,192,082 in the last 90 days. 3.80% 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.