Dearborn Partners LLC Buys Shares of 62,282 Snap-On Incorporated $SNA

Dearborn Partners LLC bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,282 shares of the company’s stock, valued at approximately $25,062,000.

Other institutional investors have also recently made changes to their positions in the company. DV Equities LLC bought a new position in Snap-On during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in Snap-On in the first quarter worth approximately $29,000. Montag A & Associates Inc. grew its position in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Quattro Advisors LLC bought a new stake in Snap-On in the 4th quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president owned 4,529 shares in the company, valued at $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the transaction, the senior vice president directly owned 21,223 shares in the company, valued at $8,900,077.28. This trade represents a 30.04% 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 sold 46,728 shares of company stock valued at $18,803,009 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNA. Barclays started 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. Roth Capital reaffirmed a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Finally, Tigress Financial raised their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and an average target price of $426.20.

Snap-On Stock Down 0.4%

Shares of SNA stock opened at $395.94 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The stock has a market cap of $20.48 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.80 and a beta of 0.73. The company has a 50 day simple moving average of $404.06 and a two-hundred day simple moving average of $385.23.

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

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

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

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.