Auto Owners Insurance Co Has $926,000 Stake in Snap-On Incorporated $SNA

Auto Owners Insurance Co decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 99.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,975 shares of the company’s stock after selling 1,070,025 shares during the period. Auto Owners Insurance Co’s holdings in Snap-On were worth $926,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. New York Life Investment Management LLC increased its holdings in shares of Snap-On by 1.5% in the 2nd quarter. New York Life Investment Management LLC now owns 7,146 shares of the company’s stock valued at $2,224,000 after purchasing an additional 104 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Snap-On by 20.8% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,281 shares of the company’s stock valued at $5,066,000 after purchasing an additional 2,800 shares during the period. United Capital Management of KS Inc. increased its holdings in shares of Snap-On by 2.3% in the 2nd quarter. United Capital Management of KS Inc. now owns 14,613 shares of the company’s stock valued at $4,547,000 after purchasing an additional 326 shares during the period. Bessemer Group Inc. increased its holdings in Snap-On by 7.1% in the second quarter. Bessemer Group Inc. now owns 633 shares of the company’s stock worth $197,000 after buying an additional 42 shares during the last quarter. Finally, MQS Management LLC increased its holdings in Snap-On by 60.4% in the second quarter. MQS Management LLC now owns 1,949 shares of the company’s stock worth $606,000 after buying an additional 734 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This represents a 4.06% 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 this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Trading Down 1.0%

Shares of SNA stock opened at $342.93 on Wednesday. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $335.37 and its two-hundred day moving average is $324.96. The company has a market cap of $17.84 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $4.70 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 44.89%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial boosted their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, Roth Capital reissued a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.00.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.