XTX Topco Ltd Makes New $1.08 Million Investment in Snap-on Incorporated (NYSE:SNA)

XTX Topco Ltd acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,118 shares of the company’s stock, valued at approximately $1,076,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Sienna Gestion bought a new stake in Snap-on in the 2nd quarter valued at about $6,525,000. Seven Eight Capital LP bought a new stake in shares of Snap-on during the second quarter valued at approximately $445,000. Hsbc Holdings PLC raised its position in shares of Snap-on by 23.0% during the second quarter. Hsbc Holdings PLC now owns 397,134 shares of the company’s stock worth $103,698,000 after purchasing an additional 74,154 shares during the period. Blair William & Co. IL lifted its holdings in shares of Snap-on by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 7,885 shares of the company’s stock worth $2,061,000 after purchasing an additional 48 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Snap-on by 13.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,041 shares of the company’s stock valued at $1,056,000 after purchasing an additional 464 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated 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 in the company, valued at $204,138,160.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by insiders.

Snap-on Trading Down 1.0 %

Shares of SNA stock opened at $283.19 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.95 and a beta of 0.98. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a 50-day simple moving average of $277.23 and a two-hundred day simple moving average of $276.64.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. Snap-on’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.89 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

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

Snap-on Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird cut their price target 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, Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.