EP Wealth Advisors LLC Purchases New Position in Snap-On Incorporated $SNA

EP Wealth Advisors LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,181 shares of the company’s stock, valued at approximately $878,000.

Several other hedge funds have also recently modified their holdings of SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP lifted its holdings in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Snap-On by 100.9% during the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after buying an additional 434 shares during the last quarter. Finally, Natixis lifted its stake in shares of Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after buying an additional 1,761 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,889 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the sale, the chief executive officer owned 867,779 shares of the company’s stock, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,838,411.68. This represents a 30.63% 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 sold 45,928 shares of company stock worth $18,483,009 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Price Performance

NYSE:SNA opened at $393.11 on Monday. 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 company has a market capitalization of $20.34 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.77 and a beta of 0.73. The stock’s fifty day moving average is $403.30 and its two-hundred day moving average is $384.66. Snap-On Incorporated has a 52 week low of $319.20 and a 52 week high of $423.02.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion during 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 company’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.72 earnings per share. Equities analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its board has approved a stock repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio is presently 49.77%.

Analyst Upgrades and Downgrades

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

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.