Snap-On Incorporated $SNA Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Snap-On Incorporated (NYSE:SNA) by 18.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 36,582 shares of the company’s stock after selling 8,473 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.07% of Snap-On worth $13,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the 4th quarter valued at approximately $25,000. DV Equities LLC acquired a new position in Snap-On during the fourth quarter worth $25,000. Montag A & Associates Inc. boosted its position in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC purchased a new position in shares of Snap-On during the fourth quarter worth $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 119,488 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This trade represents 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. In the last ninety days, insiders sold 37,117 shares of company stock valued at $14,003,922. Corporate 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 stock has a market cap of $21.07 billion, a P/E ratio of 20.77, a PEG ratio of 2.85 and a beta of 0.73. The business’s fifty day simple moving average is $390.45 and its 200-day simple moving average is $378.91. Snap-On Incorporated has a 12-month low of $312.78 and a 12-month high of $419.68. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15.

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

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid 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 presently 49.77%.

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

Snap-On 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.