OMERS ADMINISTRATION Corp Boosts Stock Position in Snap-On Incorporated $SNA

OMERS ADMINISTRATION Corp raised its holdings in Snap-On Incorporated (NYSE:SNA) by 15.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,459 shares of the company’s stock after purchasing an additional 1,297 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Snap-On were worth $3,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after buying an additional 31,073 shares during the last quarter. State Street Corp boosted its stake in Snap-On by 1.3% during the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock valued at $782,945,000 after acquiring an additional 28,071 shares during the last quarter. First Trust Advisors LP boosted its stake in Snap-On by 3.3% during the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Snap-On by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock worth $693,306,000 after acquiring an additional 39,765 shares in the last quarter. Finally, Auto Owners Insurance Co increased its position in shares of Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after purchasing an additional 1,022,210 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNA. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Finally, Roth Capital reiterated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $418.20.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the transaction, the chief financial officer directly owned 118,158 shares in the company, valued at $44,813,784.66. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. The trade was a 48.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,117 shares of company stock valued at $14,003,922 over the last quarter. Company insiders own 3.80% of the company’s stock.

Snap-On Stock Up 0.8%

Shares of NYSE:SNA opened at $407.27 on Tuesday. The company’s fifty day moving average is $390.45 and its two-hundred day moving average is $378.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $419.68. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $4.72 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Snap-On Incorporated will post 19.67 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio is 49.77%.

Snap-On announced that its board has authorized a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication 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.