Machina Capital S.A.S. Purchases 4,349 Shares of Snap-On Incorporated $SNA

Machina Capital S.A.S. bought a new position in Snap-On Incorporated (NYSE:SNA) in the 3rd quarter, Holdings Channel.com reports. The firm bought 4,349 shares of the company’s stock, valued at approximately $1,580,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Western Wealth Management LLC purchased a new position in shares of Snap-On during the 1st quarter worth approximately $29,000. Independence Bank of Kentucky purchased a new position in Snap-On in the third quarter worth $29,000. Gen Wealth Partners Inc acquired a new stake in Snap-On in the third quarter valued at $30,000. Entrust Financial LLC boosted its position in shares of Snap-On by 41.2% during the 3rd quarter. Entrust Financial LLC now owns 96 shares of the company’s stock worth $35,000 after purchasing an additional 28 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Snap-On in the 2nd quarter valued at about $45,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SNA shares. Robert W. Baird set a $385.00 price target on shares of Snap-On in a research report on Friday, October 23rd. Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Roth Capital reiterated a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Barclays dropped their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Finally, Tigress Financial boosted their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $434.00.

Snap-On Price Performance

Snap-On stock opened at $368.33 on Friday. Snap-On Incorporated has a 12-month low of $320.80 and a 12-month high of $423.02. The stock has a market capitalization of $19.00 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.67 and a beta of 0.75. The firm’s 50-day moving average is $367.75 and its two-hundred day moving average is $380.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 earnings per share. Equities analysts predict that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Friday, November 20th. This is a positive change from Snap-On’s previous quarterly dividend of $2.44. This represents a $11.00 annualized dividend and a dividend yield of 3.0%. Snap-On’s payout ratio is currently 50.75%.

Insider Buying and Selling

In related news, CEO Nicholas Pinchuk sold 23,447 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $373.47, for a total transaction of $8,756,751.09. Following the sale, the chief executive officer owned 878,082 shares in the company, valued at approximately $327,937,284.54. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president directly owned 1,526 shares of the company’s stock, valued at $610,400. The trade was a 34.39% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 47,136 shares of company stock worth $18,225,256. 3.80% of the stock is owned by company insiders.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.