Snap-On Incorporated $SNA Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 880,951 shares of the company’s stock after purchasing an additional 17,337 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Snap-On were worth $319,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Miller Howard Investments Inc. NY purchased a new stake in Snap-On in the 1st quarter valued at $51,244,000. Pensionfund Sabic acquired a new stake in Snap-On during the 4th quarter worth $1,206,000. First Horizon Corp purchased a new position in Snap-On during the 4th quarter worth $4,068,000. QRG Capital Management Inc. increased its stake in Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock valued at $31,545,000 after purchasing an additional 7,798 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Snap-On by 21.8% in the fourth quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock valued at $22,750,000 after buying an additional 11,808 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Up 0.8%

Snap-On stock opened at $407.16 on Thursday. The stock’s 50 day moving average price is $388.08 and its 200 day moving average price is $377.89. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $419.68. The company has a market cap of $21.09 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.84 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.

Snap-On (NYSE:SNA) last released its quarterly earnings data 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). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted $4.51 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Announces Dividend

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

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNA. Roth Capital reiterated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Robert W. Baird boosted their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and an average target price of $408.20.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the sale, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. This represents a 4.56% 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 90 days, insiders have sold 37,117 shares of company stock worth $14,003,922. 3.80% of the stock is owned by company insiders.

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.