Jefferies Financial Group Inc. Takes Position in Snap-On Incorporated $SNA

Jefferies Financial Group Inc. bought a new stake in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,630 shares of the company’s stock, valued at approximately $656,000.

A number of other institutional investors have also added to or reduced their stakes in SNA. BlackRock Inc. bought a new stake in shares of Snap-On in the 2nd quarter worth approximately $1,715,363,000. State Street Corp increased its position in shares of Snap-On by 1.3% during the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock valued at $782,945,000 after purchasing an additional 28,071 shares during the period. First Trust Advisors LP increased its position in shares of Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after purchasing an additional 65,521 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-On by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares in the last quarter. Finally, Auto Owners Insurance Co raised its stake in shares of Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after purchasing an additional 1,022,210 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNA. Tigress Financial raised their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday, July 24th. Barclays began coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Roth Capital reiterated a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Price Performance

NYSE:SNA opened at $386.88 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.01 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.76 and a beta of 0.73. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The company’s 50-day moving average price is $404.06 and its two-hundred day moving average price is $385.47.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued 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 is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Insider Activity

In other news, VP Marty V. Ozolins sold 800 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the sale, the vice president owned 1,526 shares in the company, valued at approximately $610,400. This represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 46,728 shares of company stock worth $18,803,009. 3.80% of the stock is currently owned by 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.