Delphi Management Inc. MA Buys 575 Shares of Snap-on Incorporated (NYSE:SNA)

Delphi Management Inc. MA increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,295 shares of the company’s stock after acquiring an additional 575 shares during the quarter. Delphi Management Inc. MA’s holdings in Snap-on were worth $1,646,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SNA. Confluence Investment Management LLC bought a new stake in Snap-on during the 1st quarter valued at $173,451,000. Mawer Investment Management Ltd. increased its position in shares of Snap-on by 234.7% during the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its position in Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after acquiring an additional 152,631 shares in the last quarter. Finally, Glassman Wealth Services acquired a new position in Snap-on during the 2nd quarter valued at about $26,608,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction 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 in the company, valued at $204,138,160.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s 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 transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the company’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 90 days. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Robert W. Baird dropped 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 restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Friday, September 20th. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Trading Up 0.4 %

Shares of Snap-on stock opened at $289.71 on Tuesday. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The stock has a fifty day moving average price of $278.81 and a 200-day moving average price of $276.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm has a market cap of $15.27 billion, a PE ratio of 15.20, a P/E/G ratio of 1.97 and a beta of 0.98.

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, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.89 EPS. Equities research analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has authorized a share 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 purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.57%. Snap-on’s dividend payout ratio 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.