Snap-On Incorporated $SNA Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 74.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,533 shares of the company’s stock after buying an additional 1,931 shares during the quarter. Intech Investment Management LLC’s holdings in Snap-On were worth $1,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Snap-On by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after acquiring an additional 80,422 shares during the period. State Street Corp increased its stake in Snap-On by 0.6% during the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after buying an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after buying an additional 36,421 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Snap-On by 40.7% in the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after acquiring an additional 547,527 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Snap-On by 3.0% during the third quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after acquiring an additional 36,964 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNA has been the subject of a number of research reports. Robert W. Baird set a $375.00 price target on Snap-On in a research note on Friday, February 6th. Roth Mkm reaffirmed a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Tigress Financial raised their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Price Performance

SNA opened at $382.15 on Friday. The firm has a market capitalization of $19.84 billion, a P/E ratio of 19.91, a PEG ratio of 2.65 and a beta of 0.78. The stock has a fifty day moving average of $370.41 and a 200-day moving average of $349.33. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $390.13.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.82 EPS. Equities analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Buying and Selling at Snap-On

In other Snap-On news, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares in the company, valued at $7,502,332.40. The trade was a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 46,429 shares of company stock valued at $17,598,523. Company insiders own 3.90% of the company’s stock.

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.