BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Snap-On Incorporated (NYSE:SNA) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,777 shares of the company’s stock after selling 8,183 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.10% of Snap-On worth $9,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Snap-On by 2,077.9% in the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock worth $613,657,000 after buying an additional 3,471,155 shares in the last quarter. Boston Partners purchased a new stake in Snap-On during the second quarter worth $100,171,000. Alliancebernstein L.P. raised its stake in Snap-On by 428.7% in the first quarter. Alliancebernstein L.P. now owns 547,616 shares of the company’s stock worth $92,366,000 after buying an additional 444,039 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in Snap-On during the first quarter worth $73,371,000. Finally, Schroder Investment Management Group raised its stake in Snap-On by 148.4% in the first quarter. Schroder Investment Management Group now owns 713,988 shares of the company’s stock worth $120,172,000 after buying an additional 426,521 shares in the last quarter. Institutional investors own 93.32% of the company’s stock.

Snap-On Incorporated (SNA) opened at 148.82 on Friday. The company has a market cap of $8.57 billion, a P/E ratio of 15.41 and a beta of 1.05. Snap-On Incorporated has a 52 week low of $145.17 and a 52 week high of $181.73. The firm’s 50 day moving average is $153.74 and its 200-day moving average is $163.45.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The firm had revenue of $921.40 million during the quarter, compared to analysts’ expectations of $920.87 million. During the same quarter in the prior year, the company earned $2.36 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.

Snap-On declared that its Board of Directors has initiated a share buyback plan on Monday, August 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a $0.71 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. Snap-On’s payout ratio is presently 29.34%.

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Several analysts have commented on SNA shares. FBR & Co set a $205.00 price objective on shares of Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. BidaskClub lowered shares of Snap-On from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective (up from $165.00) on shares of Snap-On in a report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $200.00 price objective on shares of Snap-On in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $197.86.

In related news, VP Iain Boyd sold 18,418 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruth Ann M. Gillis bought 265 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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