Snap-on Incorporated (NYSE:SNA) Shares Bought by Boston Research & Management Inc.

Boston Research & Management Inc. grew its stake in Snap-on Incorporated (NYSE:SNA) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,541 shares of the company’s stock after purchasing an additional 341 shares during the quarter. Boston Research & Management Inc.’s holdings in Snap-on were worth $4,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SNA. Scarborough Advisors LLC acquired a new stake in Snap-on in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on during the second quarter worth $32,000. Versant Capital Management Inc raised its position in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Snap-on during the first quarter worth about $56,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $283.19 on Friday. The stock has a market capitalization of $14.93 billion, a P/E ratio of 14.86, a PEG 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. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The company has a 50 day moving average price of $277.23 and a 200 day moving average price of $276.68.

Snap-on (NYSE:SNA) last released its 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. Snap-on’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.89 EPS. Equities research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

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 reacquire 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.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,804 shares of company stock worth $8,077,390. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

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.