Intech Investment Management LLC Grows Stock Position in Snap-On Incorporated $SNA

Intech Investment Management LLC boosted its holdings in Snap-On Incorporated (NYSE:SNA) by 74.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,533 shares of the company’s stock after buying an additional 1,931 shares during the period. Intech Investment Management LLC’s holdings in Snap-On were worth $1,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tobam acquired a new stake in shares of Snap-On in the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC raised its stake in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Snap-On during the 3rd quarter valued at $36,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-On during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNA shares. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research report on Friday, February 6th. Tigress Financial lifted their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Stock Down 0.4%

Shares of NYSE:SNA opened at $382.15 on Friday. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The company has a 50 day moving average of $370.41 and a two-hundred day moving average of $349.33. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.82 earnings per share. As a group, analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. The trade was a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the sale, the chief executive officer owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 46,429 shares of company stock valued at $17,598,523 in the last three months. 3.90% of the stock is owned by insiders.

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.