Wellington Management Group LLP Buys 8,286 Shares of Snap-On Incorporated $SNA

Wellington Management Group LLP boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 30.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,470 shares of the company’s stock after buying an additional 8,286 shares during the period. Wellington Management Group LLP’s holdings in Snap-On were worth $14,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNA. DV Equities LLC purchased a new position in shares of Snap-On during the fourth quarter valued at about $25,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter worth about $29,000. Quattro Advisors LLC bought a new position in Snap-On during the fourth quarter valued at approximately $35,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Snap-On by 152.4% during the 4th quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock valued at $37,000 after buying an additional 64 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Down 0.0%

Shares of SNA opened at $382.90 on Tuesday. The company has a market cap of $19.81 billion, a PE ratio of 19.53, a P/E/G ratio of 2.69 and a beta of 0.72. The business has a fifty day moving average of $402.81 and a 200 day moving average of $385.47. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.72 earnings per share. On average, sell-side analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Snap-On’s payout ratio is 49.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNA. Roth Capital reaffirmed a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Robert W. Baird set a $415.00 target price on shares of Snap-On in a report on Friday, July 24th. Barclays initiated coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Insider Activity

In other news, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aldo Pagliari sold 5,531 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 45,398 shares of company stock valued at $18,298,580. 3.80% of the stock is currently owned by corporate insiders.

Snap-On 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.