ABN Amro Investment Solutions Buys Shares of 24,926 Snap-On Incorporated $SNA

ABN Amro Investment Solutions purchased a new position in Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,926 shares of the company’s stock, valued at approximately $7,756,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Choreo LLC grew its holdings in shares of Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock worth $2,432,000 after purchasing an additional 3,170 shares during the last quarter. Advisors Capital Management LLC boosted its position in Snap-On by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after buying an additional 63 shares during the period. Jump Financial LLC boosted its position in Snap-On by 367.7% in the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock valued at $1,861,000 after buying an additional 4,342 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Snap-On in the 1st quarter worth about $1,986,000. Finally, Ascent Group LLC purchased a new position in shares of Snap-On during the first quarter worth approximately $421,000. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNA. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Robert W. Baird increased their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Roth Capital reissued a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Price Performance

SNA opened at $341.64 on Thursday. The firm has a market capitalization of $17.77 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The business’s 50-day moving average is $338.46 and its two-hundred day moving average is $326.87. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $4.70 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a $2.44 dividend. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio is presently 51.18%.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.