Deutsche Bank AG acquired a new position in shares of Snap-On Incorporated (NYSE:SNA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 264,652 shares of the company’s stock, valued at approximately $106,496,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares during the last quarter. Verition Fund Management LLC raised its holdings in Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after purchasing an additional 28 shares during the last quarter. CWM LLC lifted its position in shares of Snap-On by 0.6% in the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after purchasing an additional 31 shares during the period. Ritholtz Wealth Management lifted its position in shares of Snap-On by 2.4% in the 1st quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock worth $521,000 after purchasing an additional 34 shares during the period. Finally, Oakworth Capital Inc. boosted its stake in shares of Snap-On by 9.7% in the 4th quarter. Oakworth Capital Inc. now owns 406 shares of the company’s stock valued at $140,000 after purchasing an additional 36 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of Snap-On stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This trade represents a 4.38% 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. In the last three months, insiders sold 45,928 shares of company stock valued at $18,483,009. 3.80% of the stock is currently owned by corporate insiders.
Snap-On Price Performance
Snap-On (NYSE:SNA – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 EPS. On average, equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.
Snap-On declared that its board has authorized a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Snap-On Announces Dividend
The business 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is currently 49.77%.
Analysts Set New Price Targets
SNA has been the subject of several recent analyst reports. Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research report on Friday, July 24th. 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. Finally, Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.
Check Out Our Latest Stock Report on Snap-On
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.
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