Bokf Na Decreases Position in Snap-on Incorporated (NYSE:SNA)

Bokf Na decreased its position in Snap-on Incorporated (NYSE:SNA) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,724 shares of the company’s stock after selling 364 shares during the period. Bokf Na’s holdings in Snap-on were worth $2,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNA. BNP Paribas Financial Markets increased its holdings in Snap-on by 10.2% in the 4th quarter. BNP Paribas Financial Markets now owns 26,894 shares of the company’s stock worth $7,768,000 after acquiring an additional 2,499 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Snap-on by 4.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,371 shares of the company’s stock valued at $974,000 after purchasing an additional 139 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Snap-on by 13.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,251 shares of the company’s stock valued at $15,627,000 after buying an additional 6,425 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Snap-on by 3.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,591 shares of the company’s stock worth $1,615,000 after buying an additional 203 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Snap-on by 17.7% in the 4th quarter. Quadrant Capital Group LLC now owns 539 shares of the company’s stock valued at $156,000 after buying an additional 81 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Robert W. Baird reduced their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated 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 directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,804 shares of company stock worth $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $280.44 on Friday. The stock’s 50-day simple moving average is $275.24 and its two-hundred day simple moving average is $276.51. 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 $14.77 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22.

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

Snap-on Dividend Announcement

The business also recently disclosed 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 2.65%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is currently 39.03%.

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

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.