denkapparat Operations GmbH Buys 2,558 Shares of Snap-On Incorporated $SNA

denkapparat Operations GmbH boosted its stake in Snap-On Incorporated (NYSE:SNA) by 229.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,674 shares of the company’s stock after purchasing an additional 2,558 shares during the period. denkapparat Operations GmbH’s holdings in Snap-On were worth $1,478,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP raised its stake in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after buying an additional 233 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the period. Finally, Natixis increased its holdings in Snap-On by 136.8% in the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after acquiring an additional 1,761 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In related news, SVP Timothy Chambers sold 9,111 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction 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. The trade was a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, VP Marty V. Ozolins sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total value of $320,000.00. Following the completion of the sale, the vice president directly owned 1,526 shares in the company, valued at approximately $610,400. The trade was a 34.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,398 shares of company stock valued at $18,298,580 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Trading Up 0.9%

Shares of Snap-On stock opened at $383.98 on Friday. The company’s 50-day moving average price is $403.39 and its 200-day moving average price is $385.47. 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 $320.80 and a 12-month high of $423.02. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.68 and a beta of 0.72.

Snap-On (NYSE:SNA) last posted its earnings results 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. 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 analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $4.72 EPS. Snap-On’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. 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. Roth Capital restated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a report on Friday, July 24th. Finally, Tigress Financial boosted their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $426.20.

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.