Boston Trust Walden Corp Grows Position in Snap-On Incorporated $SNA

Boston Trust Walden Corp raised its position in Snap-On Incorporated (NYSE:SNA) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,007 shares of the company’s stock after purchasing an additional 8,254 shares during the period. Boston Trust Walden Corp owned 0.43% of Snap-On worth $82,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Snap-On during the 4th quarter worth about $25,000. DV Equities LLC purchased a new position in shares of Snap-On in the 4th quarter valued at about $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On during the 4th quarter worth about $28,000. Montag A & Associates Inc. lifted its stake in Snap-On by 331.8% during the fourth 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 purchased a new stake in Snap-On during the fourth quarter worth approximately $35,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction dated 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 owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 37,117 shares of company stock valued at $14,003,922. Company insiders own 3.80% of the company’s stock.

Snap-On Trading Up 2.2%

SNA opened at $412.09 on Friday. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. Snap-On Incorporated has a 52 week low of $310.23 and a 52 week high of $412.33. The business’s 50 day moving average is $380.07 and its two-hundred day moving average is $372.25. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.51 earnings per share. On average, research analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its board has approved a stock buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s dividend payout ratio is currently 50.39%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays assumed 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm restated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Finally, Robert W. Baird increased their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Snap-On 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.