Snap-on Incorporated (NYSE:SNA) Stock Holdings Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 248.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,697 shares of the company’s stock after purchasing an additional 34,737 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Snap-on worth $12,729,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in shares of Snap-on during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on during the 2nd quarter worth about $30,000. Versant Capital Management Inc lifted its holdings in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in Snap-on in the fourth quarter worth approximately $55,000. Finally, Fidelis Capital Partners LLC bought a new position in Snap-on during the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

SNA traded up $0.06 during midday trading on Friday, reaching $276.19. The company’s stock had a trading volume of 242,385 shares, compared to its average volume of 296,534. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $269.13 and a 200 day simple moving average of $276.14. The stock has a market cap of $14.56 billion, a P/E ratio of 14.49, a PEG ratio of 1.89 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $4.89 earnings per share. Research analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Snap-on announced that its board has initiated a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

SNA has been the topic of several analyst reports. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Robert W. Baird cut their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and a consensus target price of $315.00.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Snap-on news, SVP Jesus Arregui sold 8,434 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the sale, the senior vice president now owns 252 shares of the company’s stock, valued at $66,822.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. Insiders sold 62,777 shares of company stock valued at $16,847,207 in the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.