MML Investors Services LLC Boosts Stock Position in Snap-On Incorporated $SNA

MML Investors Services LLC raised its stake in Snap-On Incorporated (NYSE:SNA) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,061 shares of the company’s stock after acquiring an additional 9,053 shares during the period. MML Investors Services LLC’s holdings in Snap-On were worth $46,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Kennebec Savings Bank boosted its stake in shares of 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 buying an additional 27 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in Snap-On by 36.4% in 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 period. CWM LLC lifted its position in Snap-On by 0.6% in the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock valued at $1,901,000 after purchasing an additional 31 shares during the period. Ritholtz Wealth Management lifted its position in Snap-On by 2.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock valued at $483,000 after purchasing an additional 34 shares during the period. Finally, MFA Wealth Services lifted its position in shares of Snap-On by 2.9% during the 3rd quarter. MFA Wealth Services now owns 1,236 shares of the company’s stock valued at $428,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Tigress Financial raised their price objective on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Robert W. Baird raised their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. The trade was a 2.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 427 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total transaction of $166,337.85. Following the completion of the sale, the vice president owned 4,527 shares in the company, valued at approximately $1,763,492.85. This trade represents a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 35,117 shares of company stock worth $13,192,082. 3.80% of the stock is owned by corporate insiders.

Snap-On Stock Down 0.2%

Shares of Snap-On stock opened at $386.69 on Tuesday. The company has a fifty day moving average price of $375.26 and a 200 day moving average price of $367.67. 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 Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.73 and a beta of 0.73.

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

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is currently 50.39%.

Snap-On announced that its board has authorized a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.