OMERS ADMINISTRATION Corp Takes Position in Snap-On Incorporated $SNA

OMERS ADMINISTRATION Corp purchased a new stake in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 10,370 shares of the company’s stock, valued at approximately $4,173,000.

A number of other institutional investors also recently added to or reduced their stakes in SNA. BlackRock Inc. acquired a new stake in Snap-On in the second quarter valued at approximately $1,715,363,000. Auto Owners Insurance Co raised its stake in shares of Snap-On by 34,360.0% in the fourth 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. Norges Bank acquired a new stake in Snap-On during the 4th quarter valued at approximately $210,814,000. Bank of New York Mellon Corp acquired a new stake in Snap-On during the 2nd quarter worth approximately $174,736,000. Finally, Deutsche Bank AG purchased a new position in Snap-On in the second quarter valued at approximately $106,496,000. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at approximately $346,842,588.51. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of Snap-On 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 directly owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,928 shares of company stock valued at $18,483,009 in the last 90 days. Insiders own 3.80% of the company’s stock.

Snap-On Trading Down 0.0%

Shares of SNA stock opened at $394.40 on Wednesday. Snap-On Incorporated has a fifty-two week low of $319.20 and a fifty-two week high of $423.02. The stock has a market cap of $20.40 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.77 and a beta of 0.73. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $403.56 and a 200-day simple moving average of $384.85.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $4.72 EPS. On average, analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its board has approved a stock buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Snap-On Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.