Snap-on Incorporated (NYSE:SNA) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in Snap-on Incorporated (NYSE:SNA) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 344,235 shares of the company’s stock after purchasing an additional 13,516 shares during the period. Sei Investments Co. owned approximately 0.65% of Snap-on worth $89,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Scarborough Advisors LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in Snap-on in the 2nd quarter valued at about $30,000. Innealta Capital LLC acquired a new stake in Snap-on in the 2nd quarter valued at about $32,000. Versant Capital Management Inc boosted its position in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after purchasing an additional 164 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Snap-on in the 1st quarter worth approximately $56,000. 84.88% of the stock is owned by institutional investors.

Snap-on Price Performance

Shares of NYSE:SNA opened at $283.19 on Friday. The company has a market cap of $14.93 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company’s fifty day moving average is $277.23 and its two-hundred day moving average is $276.64. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned $4.89 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on declared that its board has authorized a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on 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 in the company, valued at $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,804 shares of company stock valued at $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

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

Snap-on 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.