Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 1,683 Snap-On Incorporated $SNA

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,683 shares of the company’s stock, valued at approximately $580,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Snap-On in the 4th quarter valued at about $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On during the 4th quarter valued at approximately $28,000. Montag A & Associates Inc. grew its position 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 acquiring an additional 73 shares during the period. United Community Bank bought a new position in shares of Snap-On during the 4th quarter valued at approximately $43,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Snap-On during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Up 1.3%

SNA opened at $367.10 on Friday. The company has a 50 day moving average of $370.73 and a 200 day moving average of $362.92. The company has a market cap of $19.02 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.58 and a beta of 0.75. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15.

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

Snap-On declared that its Board of Directors has approved a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 53,716 shares of company stock valued at $20,328,412. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNA. Robert W. Baird increased their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Tigress Financial increased their target price 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. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Roth Mkm reissued a “buy” rating and set a $431.00 target price on shares of Snap-On in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $381.20.

About Snap-On

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.