Kepler Cheuvreux Suisse SA Acquires New Shares in Snap-On Incorporated $SNA

Kepler Cheuvreux Suisse SA acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the 1st quarter, Holdings Channel.com reports. The firm acquired 14,691 shares of the company’s stock, valued at approximately $5,336,000.

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

Snap-On Stock Down 0.0%

Shares of Snap-On stock opened at $412.09 on Friday. The business’s 50 day simple moving average is $380.65 and its 200 day simple moving average is $372.53. Snap-On Incorporated has a 52-week low of $310.23 and a 52-week high of $412.33. The firm has a market cap of $21.35 billion, a PE ratio of 21.27, a P/E/G ratio of 2.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.51 EPS. On average, analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its board has initiated a stock buyback 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 usually a sign that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

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

Insider Buying and Selling at Snap-On

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 sale, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 37,117 shares of company stock worth $14,003,922. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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