Achmea Investment Management B.V. Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Achmea Investment Management B.V. increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,693 shares of the company’s stock after purchasing an additional 3,315 shares during the period. Achmea Investment Management B.V.’s holdings in Snap-on were worth $13,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Earnest Partners LLC raised its stake in shares of Snap-on by 9.9% during the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after buying an additional 83,686 shares during the last quarter. Nordea Investment Management AB raised its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after acquiring an additional 27,429 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after acquiring an additional 3,449 shares during the period. Envestnet Asset Management Inc. boosted its position in Snap-on by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock worth $218,203,000 after purchasing an additional 16,972 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Snap-on by 0.5% during the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock worth $199,753,000 after purchasing an additional 3,535 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNA. Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on Monday, August 12th. The stock was 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 owns 759,019 shares in the company, valued at approximately $204,138,160.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on 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 sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,804 shares of company stock worth $8,077,390. Insiders own 4.10% of the company’s stock.

Snap-on Trading Up 0.2 %

Shares of Snap-on stock opened at $276.27 on Thursday. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The firm has a market capitalization of $14.56 billion, a PE ratio of 14.49, a P/E/G ratio of 1.88 and a beta of 0.98. The firm’s 50-day moving average price is $273.94 and its 200 day moving average price is $276.43.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $4.89 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Snap-on announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.