14,691 Shares in Snap-On Incorporated $SNA Acquired by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,691 shares of the company’s stock, valued at approximately $5,336,000.

Several other institutional investors have also recently bought and sold shares of the business. Kennebec Savings Bank increased its stake in shares of Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after buying an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after buying an additional 28 shares in the last quarter. Verition Fund Management LLC grew its holdings in Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after acquiring an additional 28 shares during the last quarter. CWM LLC increased its position in Snap-On by 0.6% in the 4th quarter. CWM LLC now owns 5,517 shares of the company’s stock valued at $1,901,000 after acquiring an additional 31 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in Snap-On by 2.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock valued at $483,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research report on Friday, April 24th. Barclays initiated coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Robert W. Baird upped 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. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Trading Down 0.0%

SNA opened at $412.09 on Friday. The firm has a 50 day simple moving average of $380.65 and a 200 day simple moving average of $372.53. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.

Snap-On (NYSE:SNA) last announced its quarterly earnings data 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 net margin of 21.28% and a return on equity of 17.13%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business posted $4.51 earnings per share. Snap-On’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

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

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated 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 owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 37,117 shares of company stock valued at $14,003,922 in the last three months. 3.80% of the stock is currently owned by company insiders.

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.