Dimensional Fund Advisors LP Buys 65,485 Shares of Snap-on Incorporated (NYSE:SNA)

Dimensional Fund Advisors LP raised its stake in Snap-on Incorporated (NYSE:SNA) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 817,536 shares of the company’s stock after acquiring an additional 65,485 shares during the period. Dimensional Fund Advisors LP owned about 1.55% of Snap-on worth $213,686,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on during the second quarter worth approximately $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after acquiring an additional 164 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Snap-on during the 1st quarter worth approximately $56,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SNA shares. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Finally, Robert W. Baird dropped their target price 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Price Performance

Snap-on stock opened at $280.66 on Thursday. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.93 and a beta of 0.98. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The business’s 50-day simple moving average is $276.59 and its 200 day simple moving average is $276.62.

Snap-on (NYSE:SNA) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $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, research analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.65%. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on declared that its board has initiated a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock valued at $8,077,390 over the last three months. Company insiders own 4.10% of the company’s stock.

Snap-on Company 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.