Snap-on Incorporated (NYSE:SNA) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in Snap-on Incorporated (NYSE:SNA) by 3.6% in the second quarter, HoldingsChannel.com reports. The fund owned 19,138 shares of the company’s stock after buying an additional 661 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Snap-on were worth $5,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Snap-on by 10.2% in the 4th quarter. BNP Paribas Financial Markets now owns 26,894 shares of the company’s stock worth $7,768,000 after purchasing an additional 2,499 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Snap-on by 4.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,371 shares of the company’s stock worth $974,000 after buying an additional 139 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Snap-on by 13.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,251 shares of the company’s stock valued at $15,627,000 after buying an additional 6,425 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Snap-on by 3.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,591 shares of the company’s stock valued at $1,615,000 after acquiring an additional 203 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Snap-on by 17.7% during 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 during the last quarter. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Finally, Robert W. Baird lowered their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on 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 0.9 %

SNA stock opened at $280.44 on Friday. The firm’s 50-day moving average is $275.24 and its two-hundred day moving average is $276.51. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

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

Snap-on Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is presently 39.03%.

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

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now directly 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 hyperlink. In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock worth $8,077,390 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

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.