Snap-On Incorporated $SNA Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Snap-On Incorporated (NYSE:SNA) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 880,951 shares of the company’s stock after acquiring an additional 17,337 shares during the quarter. Dimensional Fund Advisors LP owned about 1.70% of Snap-On worth $319,955,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Snap-On Stock Performance

NYSE:SNA opened at $407.16 on Thursday. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $419.68. The company has a fifty day simple moving average of $388.08 and a two-hundred day simple moving average of $377.89. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The company has a market cap of $21.09 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $4.51 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On’s dividend payout ratio is currently 50.39%.

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

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of Snap-On 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 sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This trade represents a 30.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 37,117 shares of company stock valued at $14,003,922. 3.80% of the stock is currently owned by company 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.