Snap-on Incorporated (NYSE:SNA) Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its position in Snap-on Incorporated (NYSE:SNA) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,924 shares of the company’s stock after purchasing an additional 1,207 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.09% of Snap-on worth $12,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Scarborough Advisors LLC purchased a new position in shares of Snap-on in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on during the 2nd quarter valued at $30,000. Versant Capital Management Inc boosted its stake in Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new position in Snap-on during the 4th quarter valued at $55,000. Finally, Fidelis Capital Partners LLC bought a new position in Snap-on during the 1st quarter valued at $56,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders have sold a total of 56,799 shares of company stock valued at $15,192,138 in the last quarter. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock traded up $3.17 during trading hours on Wednesday, reaching $278.52. The stock had a trading volume of 52,642 shares, compared to its average volume of 293,113. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The firm has a 50-day simple moving average of $269.52 and a 200-day simple moving average of $275.70. The firm has a market capitalization of $14.67 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned $4.89 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on declared that its board has authorized a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.67%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Robert W. Baird dropped their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Profile

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.