86,852 Shares in Snap-On Incorporated $SNA Acquired by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 86,852 shares of the company’s stock, valued at approximately $31,546,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennebec Savings Bank raised its position in shares of Snap-On by 3.6% during the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after buying an additional 27 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Snap-On by 36.4% in the 4th 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 last quarter. Verition Fund Management LLC boosted its stake in Snap-On by 1.5% during the fourth quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after buying an additional 28 shares during the period. CWM LLC boosted its stake in shares of Snap-On by 0.6% during the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after purchasing an additional 31 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Snap-On by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock valued at $483,000 after buying an additional 34 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Roth Capital restated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Finally, Robert W. Baird upped their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $387.67.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their position. The transaction was disclosed in a legal 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 Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This trade represents a 30.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 37,117 shares of company stock valued at $14,003,922. Corporate insiders own 3.80% of the company’s stock.

Snap-On Trading Up 2.8%

SNA stock opened at $415.17 on Friday. 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 12-month low of $312.78 and a 12-month high of $415.40. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.84 and a beta of 0.73. The business’s 50-day moving average is $385.08 and its 200 day moving average is $376.20.

Snap-On (NYSE:SNA) last released its 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). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $4.51 earnings per share. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is 50.39%.

Snap-On announced that its Board of Directors has initiated a share buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors 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.