Snap-on Incorporated (NYSE:SNA) Holdings Raised by American Century Companies Inc.

American Century Companies Inc. increased its stake in Snap-on Incorporated (NYSE:SNA) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,005 shares of the company’s stock after purchasing an additional 7,746 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of Snap-on worth $18,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Earnest Partners LLC increased its position in shares of Snap-on by 9.9% in the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after acquiring an additional 83,686 shares in the last quarter. Nordea Investment Management AB grew its position in Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after purchasing an additional 27,429 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Snap-on by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after purchasing an additional 16,972 shares during the period. LSV Asset Management lifted its holdings in shares of Snap-on by 0.5% in the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after purchasing an additional 443,333 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 1.0 %

SNA opened at $283.19 on Friday. The firm has a market cap of $14.92 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The business has a 50 day moving average price of $277.23 and a 200 day moving average price of $276.68. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The company 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 quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.89 earnings per share. Research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on Dividend Announcement

The company 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. This represents a $7.44 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on declared that its board has approved a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. 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 research report on Friday, July 12th. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Insider Activity

In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 approximately $27,663,272.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by insiders.

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.