Snap-On Incorporated $SNA Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,384 shares of the company’s stock after acquiring an additional 2,340 shares during the quarter. Empowered Funds LLC owned about 0.17% of Snap-On worth $31,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. Kennebec Savings Bank boosted its position in Snap-On by 3.6% during the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after acquiring an additional 27 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after buying an additional 28 shares during the last quarter. CWM LLC grew its position in Snap-On by 0.6% in the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after acquiring an additional 31 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in Snap-On by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after buying an additional 34 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the transaction, the vice president owned 4,529 shares in the company, valued at $1,838,411.68. This trade represents a 30.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,117 shares of company stock worth $14,003,922 in the last three months. Insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $407.27 on Tuesday. The company has a fifty day moving average of $390.45 and a 200-day moving average of $378.91. 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 52-week low of $312.78 and a 52-week high of $419.68. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. Snap-On’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $4.72 earnings per share. Equities research analysts expect that Snap-On Incorporated will post 19.67 EPS for the current year.

Snap-On declared 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 buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s payout ratio is currently 49.77%.

Analysts Set New Price Targets

Several brokerages have commented on SNA. Barclays started coverage on 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 set a $415.00 price target on shares of Snap-On in a research note on Friday. Roth Capital restated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

Snap-On Company 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.