Resources Management Corp CT ADV Raises Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Resources Management Corp CT ADV increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 483.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,403 shares of the company’s stock after purchasing an additional 5,306 shares during the quarter. Resources Management Corp CT ADV’s holdings in Snap-on were worth $1,674,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Public Sector Pension Investment Board grew its stake in shares of Snap-on by 78.0% during the second quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock worth $530,000 after acquiring an additional 889 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Snap-on during the second quarter worth about $269,000. Mount Yale Investment Advisors LLC grew its stake in shares of Snap-on by 2.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after acquiring an additional 39 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Snap-on by 1.8% during the second quarter. ProShare Advisors LLC now owns 12,118 shares of the company’s stock worth $3,168,000 after acquiring an additional 212 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Snap-on by 2.3% during the second quarter. Ensign Peak Advisors Inc now owns 24,036 shares of the company’s stock worth $6,283,000 after acquiring an additional 550 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the 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 completion of the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on 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 $27,663,272.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by company insiders.

Snap-on Stock Up 0.6 %

Shares of 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 price-to-earnings ratio of 14.94, a PEG 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 released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion during 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%. Snap-on’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.89 EPS. On average, sell-side analysts predict that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued 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 39.03%.

Analyst Upgrades and Downgrades

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

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.