Boston Trust Walden Corp Grows Stock Position in Snap-On Incorporated $SNA

Boston Trust Walden Corp increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 3.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 226,007 shares of the company’s stock after purchasing an additional 8,254 shares during the period. Boston Trust Walden Corp’s holdings in Snap-On were worth $82,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On during the 4th quarter worth $25,000. DV Equities LLC acquired a new stake in shares of Snap-On in the 4th quarter worth $25,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On in the fourth quarter valued at about $28,000. Montag A & Associates Inc. boosted its holdings in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in shares of Snap-On during the fourth quarter worth about $35,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Up 2.2%

SNA stock opened at $412.09 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $380.07 and its 200 day moving average price is $372.25. Snap-On Incorporated has a 52 week low of $310.23 and a 52 week high of $412.33. The company has a market cap of $21.35 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly 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). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.51 earnings per share. On average, research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal 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 purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s payout ratio is presently 50.39%.

Insider Transactions at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction on 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 $1,838,411.68. This trade represents a 30.63% decrease in their position. 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 a total of 37,117 shares of company stock worth $14,003,922 over the last ninety days. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on SNA. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Roth Mkm reissued a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Finally, Robert W. Baird raised their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

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.