Empowered Funds LLC Has $31.74 Million Stock Position in Snap-On Incorporated $SNA

Empowered Funds LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 2.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 87,384 shares of the company’s stock after purchasing an additional 2,340 shares during the period. Empowered Funds LLC’s holdings in Snap-On were worth $31,740,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SNA. Maverick Capital Ltd. acquired a new stake in shares of Snap-On in the 1st quarter valued at approximately $687,000. Quantinno Capital Management LP raised its holdings in Snap-On by 44.2% during the 1st quarter. Quantinno Capital Management LP now owns 253,770 shares of the company’s stock worth $92,174,000 after purchasing an additional 77,845 shares during the last quarter. SummitTX Capital L.P. bought a new stake in Snap-On during the first quarter valued at $4,446,000. Gateway Wealth Partners LLC acquired a new stake in Snap-On during the first quarter worth approximately $225,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Snap-On by 15.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 9,459 shares of the company’s stock valued at $3,436,000 after acquiring an additional 1,297 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Snap-On stock opened at $407.27 on Tuesday. The firm’s fifty day moving average is $390.45 and its 200 day moving average is $378.91. 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 Incorporated has a 52-week low of $312.78 and a 52-week high of $419.68. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.85 and a beta of 0.73.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.72 earnings per share. Sell-side analysts forecast that Snap-On Incorporated will post 19.67 EPS for the current fiscal year.

Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid 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 2.4%. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Insider Transactions at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of Snap-On stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,117 shares of company stock valued at $14,003,922 in the last quarter. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Roth Capital reissued a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report 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 company’s stock. Based on data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $418.20.

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.