Generali Asset Management SPA SGR Makes New $2.07 Million Investment in Snap-On Incorporated $SNA

Generali Asset Management SPA SGR bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,968 shares of the company’s stock, valued at approximately $2,068,000.

Several other institutional investors also recently modified their holdings of SNA. Tobam acquired a new position in Snap-On in the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. Ransom Advisory Ltd bought a new position in shares of Snap-On in the 1st quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Snap-On Price Performance

Shares of SNA opened at $350.85 on Friday. The stock has a 50 day simple moving average of $343.02 and a 200 day simple moving average of $333.19. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $365.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The firm has a market capitalization of $18.25 billion, a PE ratio of 18.40, a P/E/G ratio of 2.46 and a beta of 0.80.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $4.70 EPS. Sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a $2.44 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is presently 51.18%.

Insider Activity at Snap-On

In other news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at $39,406,953.60. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is owned by insiders.

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.