Snap-on Incorporated (NYSE:SNA) Shares Bought by Security National Bank of SO Dak

Security National Bank of SO Dak raised its holdings in Snap-on Incorporated (NYSE:SNA) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 4,674 shares of the company’s stock after buying an additional 65 shares during the quarter. Security National Bank of SO Dak’s holdings in Snap-on were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new position in shares of Snap-on during the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on during the 2nd quarter worth $32,000. Versant Capital Management Inc raised its stake in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Snap-on during the 1st quarter worth $56,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’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 completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP June C. Lemerand sold 1,186 shares of the business’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 transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 29,804 shares of company stock worth $8,077,390. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SNA. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Friday, September 20th. Roth Mkm reiterated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Robert W. Baird dropped their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. One 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Stock Up 2.0 %

SNA opened at $289.39 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.98 and a beta of 0.98. The business has a 50-day moving average of $278.15 and a two-hundred day moving average of $276.56.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) 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 business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.89 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current year.

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

Snap-on Dividend Announcement

The company 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 2.57%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is currently 39.03%.

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.