1,441 Shares in Snap-On Incorporated $SNA Bought by Focused Alpha LLC

Focused Alpha LLC acquired a new position in Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,441 shares of the company’s stock, valued at approximately $580,000.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP increased its holdings in Snap-On by 40.4% during the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after buying an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after acquiring an additional 233 shares during the period. Gamco Investors INC. ET AL raised its position in Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the period. Finally, Natixis boosted its stake in Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after acquiring an additional 1,761 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNA shares. Roth Capital restated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial boosted their price objective on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Trading Down 0.5%

NYSE:SNA opened at $401.56 on Tuesday. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. The stock’s fifty day moving average price is $402.57 and its two-hundred day moving average price is $383.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The company has a market cap of $20.77 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business earned $4.72 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s payout ratio is presently 49.77%.

Snap-On declared that its Board of Directors has approved a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president directly owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,039 shares of company stock valued at $9,334,505. Corporate insiders own 3.80% of the company’s stock.

Snap-On Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.