Sienna Gestion Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Sienna Gestion bought a new position in Snap-on Incorporated (NYSE:SNA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,974 shares of the company’s stock, valued at approximately $6,525,000.

A number of other large investors also recently modified their holdings of SNA. Quadrant Capital Group LLC boosted its position in Snap-on by 17.7% in the 4th quarter. Quadrant Capital Group LLC now owns 539 shares of the company’s stock valued at $156,000 after buying an additional 81 shares during the last quarter. TrinityPoint Wealth LLC boosted its holdings in Snap-on by 8.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock valued at $1,078,000 after acquiring an additional 276 shares during the last quarter. ING Groep NV increased its position in Snap-on by 19.2% in the fourth quarter. ING Groep NV now owns 3,626 shares of the company’s stock worth $1,047,000 after purchasing an additional 583 shares during the period. Norges Bank bought a new stake in Snap-on during the 4th quarter worth about $145,665,000. Finally, UBS Group AG lifted its position in Snap-on by 37.2% during the 4th quarter. UBS Group AG now owns 138,803 shares of the company’s stock valued at $40,092,000 after purchasing an additional 37,667 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Trading Up 0.2 %

SNA opened at $280.66 on Thursday. The firm’s fifty day moving average is $276.59 and its two-hundred day moving average is $276.62. The firm has a market cap of $14.80 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.93 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $4.89 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.65%. Snap-on’s dividend payout ratio is presently 39.03%.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The disclosure for this sale can be found here. In the last three months, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the subject of several analyst reports. Tigress Financial reiterated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird decreased their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.