Vanguard Personalized Indexing Management LLC Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041 shares of the company’s stock after buying an additional 464 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Snap-on were worth $1,056,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TrinityPoint Wealth LLC grew its stake in shares of Snap-on by 8.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock worth $1,078,000 after acquiring an additional 276 shares during the period. Corient Private Wealth LLC grew its position in Snap-on by 54.7% in the 4th quarter. Corient Private Wealth LLC now owns 22,379 shares of the company’s stock worth $6,464,000 after purchasing an additional 7,915 shares during the period. Franklin Resources Inc. raised its stake in Snap-on by 5.3% during the 4th 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. Orion Portfolio Solutions LLC lifted its holdings in shares of 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 buying an additional 534 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Snap-on by 5.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 23,350 shares of the company’s stock worth $6,744,000 after buying an additional 1,309 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of Snap-on 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 sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 transaction, 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. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Snap-on Stock Up 0.6 %

NYSE SNA opened at $284.80 on Tuesday. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $15.01 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The stock’s 50-day moving average price is $277.51 and its 200-day moving average price is $276.50.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 earnings per share. On average, equities research analysts predict that Snap-on Incorporated will post 18.95 earnings per share 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 repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.61%. Snap-on’s payout ratio is presently 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.