United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases Shares of 32,549 Snap-On Incorporated $SNA

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Snap-On Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,549 shares of the company’s stock, valued at approximately $11,216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Vanguard Group Inc. increased its stake in shares of Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after buying an additional 31,073 shares in the last quarter. State Street Corp increased its stake in shares of Snap-On by 1.6% in the third quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after buying an additional 36,130 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Snap-On by 1.3% in the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after buying an additional 23,863 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Snap-On by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after buying an additional 51,486 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Snap-On by 2.0% in the third quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock valued at $323,484,000 after buying an additional 18,549 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Up 0.6%

Shares of NYSE SNA opened at $374.53 on Friday. The company’s 50 day simple moving average is $371.10 and its 200 day simple moving average is $363.95. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The firm has a market capitalization of $19.40 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.

Snap-On (NYSE:SNA) last announced its quarterly earnings data 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $4.51 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, May 20th. Snap-On’s payout ratio is presently 50.39%.

Snap-On announced that its board has authorized a stock buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Snap-On in a research report on Thursday. They set an “overweight” rating and a $420.00 target price on the stock. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Tigress Financial upped their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Robert W. Baird upped their target price on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the business’s 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 completion of the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, 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 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. 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.