Snap-On Incorporated $SNA Position Raised by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension raised its position in shares of Snap-On Incorporated (NYSE:SNA) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,782 shares of the company’s stock after purchasing an additional 1,945 shares during the quarter. Arbejdsmarkedets Tillaegspension’s holdings in Snap-On were worth $25,346,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the period. Woodline Partners LP lifted its holdings in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after acquiring an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after purchasing an additional 233 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Snap-On by 32.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after purchasing an additional 434 shares during the last quarter. Finally, Natixis grew its stake in shares of Snap-On by 136.8% in the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after purchasing an additional 1,761 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SNA. Roth Capital reissued a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Robert W. Baird lifted their price target on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Barclays started coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Trading Up 0.1%

Snap-On stock opened at $402.16 on Monday. Snap-On Incorporated has a 52 week low of $310.23 and a 52 week high of $414.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 2.83 and a beta of 0.73. The company has a 50 day moving average price of $382.99 and a 200 day moving average price of $374.70.

Snap-On (NYSE:SNA) last announced its 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 firm had revenue of $1.21 billion for 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $4.51 earnings per share. Research analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

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 given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s payout ratio is presently 50.39%.

Snap-On declared that its board has authorized a stock buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Snap-On news, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the transaction, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. This represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,117 shares of company stock valued at $14,003,922 in the last 90 days. 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.