Blair William & Co. IL Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Blair William & Co. IL lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,885 shares of the company’s stock after purchasing an additional 48 shares during the quarter. Blair William & Co. IL’s holdings in Snap-on were worth $2,061,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SNA. Scarborough Advisors LLC acquired a new stake in Snap-on during the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in Snap-on in the 2nd quarter worth $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on during the second quarter worth about $32,000. Fidelis Capital Partners LLC acquired a new position in shares of Snap-on during the first quarter valued at approximately $56,000. Finally, Versant Capital Management Inc raised its stake in Snap-on by 529.0% in 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 during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s 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 transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on 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 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 is accessible through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock valued at $8,077,390 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Snap-on Price Performance

Shares of SNA opened at $284.80 on Tuesday. The stock has a market cap of $15.01 billion, a PE ratio of 14.94, a P/E/G ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The firm has a 50-day simple moving average of $277.51 and a two-hundred day simple moving average of $276.50.

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

Snap-on announced 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 buy up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.61%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

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.