Snap-On Incorporated $SNA Shares Bought by KBC Group NV

KBC Group NV lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 140.9% during the first quarter, Holdings Channel.com reports. The firm owned 188,419 shares of the company’s stock after acquiring an additional 110,207 shares during the period. KBC Group NV’s holdings in Snap-On were worth $68,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. bought a new position in Snap-On in the 4th quarter valued at about $25,000. DV Equities LLC bought a new stake in shares of Snap-On during the 4th quarter worth about $25,000. Montag A & Associates Inc. raised 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 worth $33,000 after buying an additional 73 shares in the last quarter. Quattro Advisors LLC acquired a new stake in shares of Snap-On in the 4th quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $407.07 on Tuesday. Snap-On Incorporated has a twelve month low of $312.78 and a twelve month high of $419.68. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $386.57 and a 200-day moving average of $377.03. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 21.02, 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, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $4.51 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio is currently 50.39%.

Snap-On announced that its board has initiated a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Roth Capital reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Finally, Robert W. Baird lifted their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and an average target price of $408.20.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. The trade was a 30.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,117 shares of company stock worth $14,003,922 over the last quarter. 3.80% of the stock is currently owned by insiders.

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.