Czech National Bank Purchases 685 Shares of Snap-on Incorporated (NYSE:SNA)

Czech National Bank raised its position in Snap-on Incorporated (NYSE:SNA) by 6.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,732 shares of the company’s stock after acquiring an additional 685 shares during the quarter. Czech National Bank’s holdings in Snap-on were worth $3,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. EP Wealth Advisors LLC purchased a new stake in Snap-on in the fourth quarter worth about $228,000. Scarborough Advisors LLC purchased a new stake in Snap-on in the fourth quarter worth about $30,000. Goldman Sachs Group Inc. increased its position in Snap-on by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after buying an additional 28,566 shares in the last quarter. Wellington Management Group LLP increased its position in Snap-on by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 159,233 shares of the company’s stock worth $45,993,000 after buying an additional 5,144 shares in the last quarter. Finally, Wahed Invest LLC grew its position in shares of Snap-on by 7.9% during the fourth quarter. Wahed Invest LLC now owns 883 shares of the company’s stock worth $255,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SNA shares. Barrington Research reiterated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Friday, September 20th. Robert W. Baird cut their target price 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. Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’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 sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 in the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $291.81 on Friday. The stock has a market capitalization of $15.38 billion, a PE ratio of 15.31, a P/E/G ratio of 1.99 and a beta of 0.98. The business has a 50 day simple moving average of $280.49 and a two-hundred day simple moving average of $276.20. 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 1-year low of $249.84 and a 1-year high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company earned $4.89 EPS. On average, research analysts predict 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 paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Snap-on declared that its board has approved a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is 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.