Sanctuary Advisors LLC Makes New $15.03 Million Investment in Snap-On Incorporated $SNA

Sanctuary Advisors LLC purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 37,347 shares of the company’s stock, valued at approximately $15,028,000.

Other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC lifted its stake 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 acquiring an additional 28 shares in the last quarter. Verition Fund Management LLC grew its position in Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after acquiring an additional 28 shares in the last quarter. CWM LLC grew 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. Ritholtz Wealth Management increased its stake in Snap-On by 2.4% during the first quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock worth $521,000 after purchasing an additional 34 shares during the period. Finally, Oakworth Capital Inc. increased its stake in Snap-On by 9.7% during the fourth quarter. Oakworth Capital Inc. now owns 406 shares of the company’s stock worth $140,000 after purchasing an additional 36 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SNA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Barclays began coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Robert W. Baird set a $415.00 target price on shares of Snap-On in a report on Friday, July 24th. Roth Capital reissued a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Finally, Tigress Financial boosted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $426.20.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the sale, the chief financial officer directly owned 120,644 shares in the company, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares in the company, valued at $346,842,588.51. The trade was a 2.57% 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. Insiders have sold 45,928 shares of company stock valued at $18,483,009 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Price Performance

Shares of NYSE SNA opened at $393.11 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The company has a market cap of $20.34 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. The stock’s 50-day moving average is $403.30 and its two-hundred day moving average is $384.66. Snap-On Incorporated has a 1-year low of $319.20 and a 1-year high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted $4.72 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is currently 49.77%.

Snap-On announced that its Board of Directors has initiated a share buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.