Sei Investments Co. Grows Position in Snap-On Incorporated $SNA

Sei Investments Co. grew its position in Snap-On Incorporated (NYSE:SNAFree Report) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 387,685 shares of the company’s stock after purchasing an additional 2,372 shares during the period. Sei Investments Co.’s holdings in Snap-On were worth $140,817,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Snap-On during the 4th quarter valued at $25,000. DV Equities LLC bought a new stake in Snap-On during the 4th quarter valued at $25,000. Montag A & Associates Inc. raised its stake in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Quattro Advisors LLC bought a new stake in shares of Snap-On during the fourth quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted 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 worth $36,000 after purchasing an additional 28 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

More Snap-On News

Here are the key news stories impacting Snap-On this week:

Analyst Ratings Changes

Several research firms have weighed in on SNA. Roth Capital reaffirmed a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird boosted their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Barclays began coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $408.20.

Read Our Latest Stock Analysis on SNA

Insider Activity

In other news, CFO Aldo John Pagliari sold 1,330 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the sale, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president 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. 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. In the last ninety days, insiders have sold 37,117 shares of company stock worth $14,003,922. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Performance

Shares of SNA stock opened at $396.15 on Friday. Snap-On Incorporated has a 12 month low of $312.78 and a 12 month high of $419.68. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $388.68 and its 200-day moving average price is $378.21. The stock has a market cap of $20.52 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.86 and a beta of 0.73.

Snap-On (NYSE:SNAGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.72 earnings per share. On average, equities analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given 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 was Wednesday, May 20th. Snap-On’s dividend payout ratio is 50.39%.

Snap-On declared that its board has initiated a share repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Snap-On Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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