Flputnam Investment Management Co. Acquires 3,669 Shares of Snap-On Incorporated $SNA

Flputnam Investment Management Co. increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 32.4% during the 4th quarter, HoldingsChannel reports. The firm owned 14,996 shares of the company’s stock after purchasing an additional 3,669 shares during the period. Flputnam Investment Management Co.’s holdings in Snap-On were worth $5,168,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SNA. Victory Capital Management Inc. lifted its holdings in shares of Snap-On by 346.0% during the 3rd quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after purchasing an additional 216,813 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Snap-On in the 4th quarter valued at approximately $69,751,000. UBS Group AG lifted its stake in Snap-On by 30.7% in the 4th quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after acquiring an additional 144,926 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Snap-On by 17.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after acquiring an additional 119,089 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Snap-On by 3,608.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 78,844 shares of the company’s stock valued at $27,170,000 after acquiring an additional 76,718 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SNA shares. Roth Mkm restated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird boosted their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Tigress Financial boosted their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.20.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

Snap-On Stock Up 0.1%

NYSE:SNA opened at $372.39 on Thursday. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The stock’s 50 day moving average price is $370.95 and its two-hundred day moving average price is $363.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $4.51 EPS. Equities research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s payout ratio is 50.39%.

Snap-On declared that its board has authorized a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Snap-On Company 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.