The Manufacturers Life Insurance Company Has $11.64 Million Holdings in Snap-On Incorporated $SNA

The Manufacturers Life Insurance Company reduced its stake in shares of Snap-On Incorporated (NYSE:SNA) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,043 shares of the company’s stock after selling 1,771 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Snap-On worth $11,639,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Snap-On in the fourth quarter valued at $25,000. DV Equities LLC acquired a new position in shares of Snap-On in the 4th quarter valued at about $25,000. Montag A & Associates Inc. boosted its position in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Quattro Advisors LLC bought a new stake in Snap-On in the fourth quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNA. Tigress Financial raised their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird set a $415.00 price target on Snap-On in a research note on Friday, July 24th. Finally, Roth Capital reiterated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $426.20.

Insider Transactions at Snap-On

In other Snap-On news, SVP Timothy L. Chambers sold 9,111 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the sale, the senior vice president directly owned 21,223 shares of the company’s stock, valued at $8,900,077.28. This represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This represents a 4.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,221 shares of company stock worth $9,196,355 over the last 90 days. 3.80% of the stock is owned by insiders.

Snap-On Trading Down 0.2%

NYSE:SNA opened at $409.58 on Tuesday. Snap-On Incorporated has a 52 week low of $314.38 and a 52 week high of $420.91. The firm has a 50-day moving average price of $395.36 and a two-hundred day moving average price of $380.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.72 EPS. On average, equities analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its board has approved a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Snap-On Company Profile

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.