Itau Unibanco Holding S.A. Invests $269,000 in Snap-on Incorporated (NYSE:SNA)

Itau Unibanco Holding S.A. bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,029 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds have also bought and sold shares of SNA. TrinityPoint Wealth LLC grew its holdings in Snap-on by 8.0% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock valued at $1,078,000 after buying an additional 276 shares in the last quarter. UBS Group AG increased its position in shares of 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 last quarter. Corient Private Wealth LLC raised its stake in shares of Snap-on by 54.7% in the fourth quarter. Corient Private Wealth LLC now owns 22,379 shares of the company’s stock valued at $6,464,000 after acquiring an additional 7,915 shares during the period. Franklin Resources Inc. grew its stake in shares of Snap-on by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 91,726 shares of the company’s stock valued at $26,494,000 after buying an additional 4,652 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Snap-on by 11.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,105 shares of the company’s stock valued at $1,444,000 after acquiring an additional 534 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 1.0 %

SNA opened at $283.19 on Monday. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The stock has a fifty day moving average price of $277.23 and a 200-day moving average price of $276.57. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.95 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

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

Snap-on Announces Dividend

The business 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. 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 payout ratio is currently 39.03%.

Snap-on announced that its Board of Directors has approved a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $648,303.51. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the firm’s 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 completion of 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 quarter, insiders have sold 29,804 shares of company stock valued at $8,077,390. Insiders own 4.10% of the company’s stock.

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.