Northwestern Mutual Wealth Management Co. Takes $1.09 Million Position in Snap-On Incorporated $SNA

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,714 shares of the company’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNA. DV Equities LLC purchased a new position in Snap-On during the fourth quarter worth $25,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter valued at $29,000. Montag A & Associates Inc. boosted its stake in shares of Snap-On by 331.8% during the fourth 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 last quarter. Quattro Advisors LLC purchased a new stake in Snap-On during the 4th quarter worth about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in 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. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Tigress Financial boosted 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. Roth Capital reissued a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Barclays assumed coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Robert W. Baird set a $415.00 price target on Snap-On in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

Snap-On Stock Down 0.0%

Shares of NYSE:SNA opened at $394.40 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.77 and a beta of 0.73. The stock’s 50-day moving average price is $403.56 and its two-hundred day moving average price is $384.85. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02.

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

Snap-On Dividend Announcement

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

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

Insider Activity at Snap-On

In other Snap-On news, SVP Timothy L. Chambers sold 9,111 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the transaction, the senior vice president owned 21,223 shares of the company’s stock, valued at $8,900,077.28. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Snap-On 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 owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% 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. Insiders have sold a total of 45,928 shares of company stock valued at $18,483,009 over the last 90 days. 3.80% of the stock is currently owned by insiders.

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.