SG Americas Securities LLC Buys 6,320 Shares of Snap-On Incorporated $SNA

SG Americas Securities LLC increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 78.5% in the first quarter, Holdings Channel.com reports. The firm owned 14,374 shares of the company’s stock after buying an additional 6,320 shares during the quarter. SG Americas Securities LLC’s holdings in Snap-On were worth $5,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DNB Asset Management AS grew its position in Snap-On by 65.5% during the 3rd quarter. DNB Asset Management AS now owns 23,702 shares of the company’s stock worth $8,213,000 after acquiring an additional 9,377 shares during the last quarter. Pensionfund Sabic acquired a new position in Snap-On in the 4th quarter worth about $1,206,000. First Horizon Corp bought a new position in Snap-On in the fourth quarter valued at about $4,068,000. Bahl & Gaynor Inc. raised its position in Snap-On by 1.3% in the third quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock valued at $132,126,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several research reports. Robert W. Baird boosted their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays initiated coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Roth Mkm reissued a “buy” rating and set a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.67.

Snap-On Stock Up 0.1%

Shares of SNA opened at $397.52 on Monday. The stock’s 50-day moving average price is $378.13 and its two-hundred day moving average price is $370.69. Snap-On Incorporated has a 12 month low of $307.47 and a 12 month high of $403.35. The company has a market capitalization of $20.59 billion, a PE ratio of 20.52, a PEG ratio of 2.79 and a beta of 0.73. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $4.51 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio is currently 50.39%.

Snap-On declared that its board has initiated a stock repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the transaction, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. This trade represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,117 shares of company stock worth $13,192,082. 3.80% of the stock is owned by company insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.