Aware Super Pty Ltd as trustee of Aware Super Acquires New Shares in Snap-On Incorporated $SNA

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Snap-On Incorporated (NYSE:SNA) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,852 shares of the company’s stock, valued at approximately $31,546,000. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.17% of Snap-On as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Snap-On by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after purchasing an additional 31,073 shares during the period. State Street Corp lifted its position in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-On by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after buying an additional 39,765 shares during the period. First Trust Advisors LP lifted its position in Snap-On by 2.7% during the 4th quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock valued at $678,038,000 after purchasing an additional 51,037 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock worth $454,206,000 after acquiring an additional 51,486 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total value of $504,429.10. Following the transaction, the chief financial officer owned 118,158 shares of the company’s stock, valued at approximately $44,813,784.66. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were 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 in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% 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. Over the last quarter, insiders sold 37,117 shares of company stock worth $14,003,922. Company insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Snap-On stock opened at $415.17 on Friday. 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 firm has a market cap of $21.51 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.84 and a beta of 0.73. The stock’s 50 day moving average is $385.08 and its 200 day moving average is $376.20. Snap-On Incorporated has a one year low of $312.78 and a one year high of $415.40.

Snap-On (NYSE:SNA) last posted its quarterly 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 return on equity of 17.13% and a net margin of 21.28%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $4.51 earnings per share. The firm’s quarterly 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 year.

Snap-On Announces Dividend

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 2.4%. Snap-On’s payout ratio is presently 50.39%.

Snap-On declared that its Board of Directors has initiated a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.