Mercer Global Advisors Inc. ADV Grows Position in Snap-on Incorporated (NYSE:SNA)

Mercer Global Advisors Inc. ADV lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 2.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 77,459 shares of the company’s stock after purchasing an additional 1,561 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.15% of Snap-on worth $20,247,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its position in shares of Snap-on by 17.7% in the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the company’s stock worth $156,000 after acquiring an additional 81 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in Snap-on by 8.0% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock valued at $1,078,000 after purchasing an additional 276 shares in the last quarter. ING Groep NV raised its position in Snap-on by 19.2% in the fourth quarter. ING Groep NV now owns 3,626 shares of the company’s stock valued at $1,047,000 after purchasing an additional 583 shares during the period. Norges Bank acquired a new position in shares of Snap-on during the fourth quarter worth about $145,665,000. Finally, UBS Group AG boosted its position in shares of Snap-on by 37.2% in the fourth quarter. UBS Group AG now owns 138,803 shares of the company’s stock worth $40,092,000 after buying an additional 37,667 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

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

Snap-on Price Performance

SNA opened at $280.66 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The company has a 50-day moving average of $276.59 and a 200-day moving average of $276.62. The company has a market capitalization of $14.80 billion, a P/E ratio of 14.73, a PEG ratio of 1.93 and a beta of 0.98.

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

Snap-on declared that its board has approved a share buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.65%. Snap-on’s payout ratio is currently 39.03%.

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.