Snap-on Incorporated (NYSE:SNA) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 358.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,177 shares of the company’s stock after acquiring an additional 47,037 shares during the period. SG Americas Securities LLC owned about 0.11% of Snap-on worth $17,434,000 at the end of the most recent reporting period.

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

Snap-on Stock Down 0.7 %

Shares of Snap-on stock traded down $1.97 during trading on Friday, reaching $286.74. The company had a trading volume of 276,583 shares, compared to its average volume of 290,089. The company has a market cap of $15.12 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The firm’s fifty day moving average is $279.91 and its 200-day moving average is $276.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results 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 analyst estimates 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 prior year, the business posted $4.89 EPS. On average, analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

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 dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.59%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on declared that its board has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SNA shares. Tigress Financial restated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. 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 report on Friday, July 12th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Insider Buying and Selling

In related news, 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were 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 in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock worth $8,077,390 over the last quarter. 4.10% of the stock is owned by company insiders.

About Snap-on

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.