Edmond DE Rothschild Holding S.A. Invests $730,000 in Snap-On Incorporated $SNA

Edmond DE Rothschild Holding S.A. bought a new stake in Snap-On Incorporated (NYSE:SNA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,814 shares of the company’s stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also modified their holdings of SNA. BlackRock Inc. bought a new stake in Snap-On during the 2nd quarter worth approximately $1,715,363,000. Auto Owners Insurance Co raised its position in Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after purchasing an additional 1,022,210 shares during the last quarter. Norges Bank acquired a new position in Snap-On in the fourth quarter worth $210,814,000. Bank of New York Mellon Corp acquired a new position in Snap-On in the second quarter worth $174,736,000. Finally, Deutsche Bank AG bought a new stake in shares of Snap-On during the second quarter worth $106,496,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNA. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Roth Capital reissued 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. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday, July 24th. Finally, Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Insider Activity at Snap-On

In other news, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the transaction, the senior vice president owned 21,223 shares of the company’s stock, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the sale, the chief executive officer owned 867,779 shares of the company’s stock, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their position. 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 quarter, insiders sold 45,928 shares of company stock worth $18,483,009. Insiders own 3.80% of the company’s stock.

Snap-On Stock Down 0.7%

NYSE SNA opened at $391.28 on Friday. The stock has a market capitalization of $20.24 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. Snap-On Incorporated has a 52 week low of $319.20 and a 52 week high of $423.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock has a fifty day moving average of $403.18 and a 200-day moving average of $384.50.

Snap-On (NYSE:SNA) last issued its quarterly 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 for 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.72 earnings per share. On average, equities research analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

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

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

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.