Snap-On Incorporated $SNA Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in Snap-On Incorporated (NYSE:SNA) by 3,608.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,844 shares of the company’s stock after buying an additional 76,718 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Snap-On were worth $27,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the fourth quarter valued at $25,000. GoalVest Advisory LLC acquired a new stake in Snap-On in the fourth quarter valued at $28,000. Montag A & Associates Inc. raised its stake in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. United Community Bank acquired a new stake in Snap-On in the fourth quarter valued at $43,000. Finally, MUFG Securities EMEA plc acquired a new stake in Snap-On in the second quarter valued at $48,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

NYSE SNA opened at $359.97 on Wednesday. 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 Incorporated has a 52-week low of $301.82 and a 52-week high of $400.88. The business’s 50-day moving average price is $371.15 and its 200 day moving average price is $362.54. The firm has a market cap of $18.65 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.56 and a beta of 0.75.

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

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $2.44 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Snap-On announced that its Board of Directors has approved a share buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares in the company, valued at $43,874,798.72. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 60,759 shares of company stock worth $23,019,190 over the last 90 days. Company insiders own 3.80% of the company’s stock.

About Snap-On

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.