Caisse de depot et placement du Quebec Makes New $181.97 Million Investment in Snap-On Incorporated $SNA

Caisse de depot et placement du Quebec purchased a new stake in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 452,210 shares of the company’s stock, valued at approximately $181,969,000.

Other hedge funds have also made changes to their positions in the company. DV Equities LLC acquired a new position in Snap-On in the fourth quarter valued at $25,000. Western Wealth Management LLC purchased a new position in Snap-On during the first quarter worth about $29,000. Montag A & Associates Inc. boosted its stake in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Quattro Advisors LLC purchased a new stake in Snap-On in the 4th quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Snap-On by 36.4% during the 4th 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. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Roth Capital reaffirmed a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday, July 24th. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Finally, Tigress Financial upped their price objective on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and an average price target of $426.20.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total value of $3,820,788.96. Following the transaction, the senior vice president owned 21,223 shares in the company, valued at approximately $8,900,077.28. This represents a 30.04% 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 45,928 shares of company stock valued at $18,483,009 over the last ninety days. Insiders own 3.80% of the company’s stock.

Snap-On Trading Up 0.8%

NYSE SNA opened at $397.69 on Thursday. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.78 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. Snap-On Incorporated has a one year low of $319.20 and a one year high of $423.02. The company’s 50 day moving average price is $403.90 and its 200 day moving average price is $385.04.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $4.72 earnings per share. Snap-On’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio is currently 49.77%.

Snap-On announced that its board has initiated a share repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.