KBC Group NV raised its position in shares of Snap-On Incorporated (NYSE:SNA – Free Report) by 140.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,419 shares of the company’s stock after buying an additional 110,207 shares during the quarter. KBC Group NV owned about 0.36% of Snap-On worth $68,438,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Snap-On in the 4th quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in shares of Snap-On during the 4th quarter valued at approximately $25,000. Montag A & Associates Inc. lifted its stake in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Quattro Advisors LLC bought a new position in Snap-On during the fourth quarter worth $35,000. Finally, 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 worth $36,000 after purchasing an additional 28 shares during the period. Institutional investors own 84.88% of the company’s stock.
Insider Activity
In other Snap-On news, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the transaction, the chief financial officer directly owned 118,158 shares of the company’s stock, valued at $44,813,784.66. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the transaction, the vice president owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 37,117 shares of company stock valued at $14,003,922. 3.80% of the stock is owned by company insiders.
Snap-On Price Performance
Snap-On (NYSE:SNA – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company 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 business posted $4.51 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current year.
Snap-On announced that its board has approved a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Snap-On Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.
Analyst Upgrades and Downgrades
SNA has been the subject of several recent research reports. Roth Capital reiterated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Robert W. Baird lifted their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $408.20.
Get Our Latest Stock Report on Snap-On
Snap-On 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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