Legal & General Group Plc Acquires Shares of 358,399 Snap-On Incorporated $SNA

Legal & General Group Plc bought a new stake in Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, HoldingsChannel reports. The firm bought 358,399 shares of the company’s stock, valued at approximately $144,220,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DV Equities LLC purchased a new position in Snap-On in the 4th quarter valued at about $25,000. Western Wealth Management LLC purchased a new stake in Snap-On during the 1st quarter worth approximately $29,000. Montag A & Associates Inc. increased its stake in Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Quattro Advisors LLC acquired a new position in shares of Snap-On during the fourth quarter valued at approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position 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 acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays initiated 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. Roth Capital restated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Finally, Tigress Financial increased their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $426.20.

Insider Buying and Selling at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction that occurred 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 owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This represents a 48.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This represents a 30.63% 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. Over the last 90 days, insiders have sold 46,728 shares of company stock worth $18,803,009. Corporate insiders own 3.80% of the company’s stock.

Snap-On Price Performance

SNA stock opened at $395.94 on Friday. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. 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 firm has a market capitalization of $20.48 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.73. The business has a 50 day simple moving average of $404.06 and a 200-day simple moving average of $385.23.

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

Snap-On Announces Dividend

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

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

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.