Sigma Investment Counselors Inc. Has $4.74 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Sigma Investment Counselors Inc. lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,119 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Snap-on were worth $4,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Earnest Partners LLC raised its holdings in shares of Snap-on by 9.9% during the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after acquiring an additional 83,686 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after acquiring an additional 27,429 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after acquiring an additional 3,449 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Snap-on by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after buying an additional 16,972 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after buying an additional 3,535 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

NYSE SNA traded up $6.17 during trading on Friday, reaching $283.84. 194,631 shares of the company traded hands, compared to its average volume of 292,449. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The stock’s 50 day moving average price is $270.34 and its two-hundred day moving average price is $275.56. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.92 and a beta of 0.98. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49.

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

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, August 19th. Snap-on’s payout ratio is currently 39.03%.

Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent research reports. 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 reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird decreased their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares of the company’s stock, valued at approximately $66,822.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the completion of the transaction, the senior vice president now directly owns 252 shares in the company, valued at $66,822.84. The disclosure for this sale can be found here. Insiders have sold 61,272 shares of company stock valued at $16,438,942 in the last three months. 4.10% of the stock is owned by corporate insiders.

About Snap-on

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.