4,349 Shares of Snap-On Incorporated $SNA Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,349 shares of the company’s stock, valued at approximately $1,580,000.

A number of other institutional investors have also recently made changes to their positions in SNA. BlackRock Inc. acquired a new stake in Snap-On during the 2nd quarter worth approximately $1,715,363,000. State Street Corp grew its stake in shares of Snap-On by 2.9% in the second quarter. State Street Corp now owns 2,356,671 shares of the company’s stock worth $948,324,000 after acquiring an additional 66,754 shares in the last quarter. 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 worth $738,473,000 after acquiring an additional 65,521 shares during the period. Bank of America Corp DE boosted its holdings in Snap-On by 0.4% in the first quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after purchasing an additional 3,770 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Snap-On by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock worth $319,955,000 after purchasing an additional 17,337 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-On news, VP Marty V. Ozolins sold 800 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the transaction, the vice president directly owned 1,526 shares of the company’s stock, valued at approximately $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,447 shares of the firm’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $373.47, for a total transaction of $8,756,751.09. Following the transaction, the chief executive officer directly owned 878,082 shares in the company, valued at $327,937,284.54. The trade was a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,136 shares of company stock worth $18,225,256 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Roth Capital reiterated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $385.00 price objective on shares of Snap-On in a report on Friday, October 23rd. Finally, Barclays dropped their target price on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $434.00.

Snap-On Trading Down 1.7%

NYSE:SNA opened at $368.33 on Friday. The company has a market capitalization of $19.00 billion, a PE ratio of 19.49, a P/E/G ratio of 2.67 and a beta of 0.75. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The stock’s 50 day moving average price is $367.75 and its 200 day moving average price is $380.29. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. Snap-On’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 EPS. On average, research analysts anticipate that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 20th. This is a positive change from Snap-On’s previous quarterly dividend of $2.44. Snap-On’s dividend payout ratio is presently 50.75%.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.