XTX Topco Ltd Invests $1.08 Million in Snap-on Incorporated (NYSE:SNA)

XTX Topco Ltd acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,118 shares of the company’s stock, valued at approximately $1,076,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Renasant Bank increased its position in shares of Snap-on by 2.3% during the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after buying an additional 36 shares during the period. Phillips Wealth Planners LLC grew its stake in Snap-on by 3.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock valued at $286,000 after acquiring an additional 37 shares in the last quarter. TFB Advisors LLC increased its holdings in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the period. Financial Advocates Investment Management lifted its stake in Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Snap-on by 4.0% in the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’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 completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap-on 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 value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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. Insiders have sold a total of 29,804 shares of company stock worth $8,077,390 in the last 90 days. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNA. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. 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. Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Friday. Finally, Robert W. Baird lowered their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Trading Down 1.0 %

Shares of SNA stock opened at $283.19 on Friday. The business has a 50-day moving average price of $277.23 and a two-hundred day moving average price of $276.64. 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 firm has a market cap of $14.93 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its 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 return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $4.89 EPS. Snap-on’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend 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.