UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $121.78 Million Stock Holdings in Snap-On Incorporated $SNA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Snap-On Incorporated (NYSE:SNA) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 302,631 shares of the company’s stock after purchasing an additional 4,350 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Snap-On were worth $121,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNA. New Mexico Educational Retirement Board lifted its stake in Snap-On by 4.2% during the second quarter. New Mexico Educational Retirement Board now owns 2,496 shares of the company’s stock valued at $1,004,000 after buying an additional 100 shares in the last quarter. Mufg Securities Americas Inc. raised its holdings in shares of Snap-On by 8.6% during the second quarter. Mufg Securities Americas Inc. now owns 1,560 shares of the company’s stock valued at $628,000 after acquiring an additional 124 shares during the period. Nissay Asset Management Corp Japan lifted its position in shares of Snap-On by 2.9% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 6,903 shares of the company’s stock valued at $2,778,000 after acquiring an additional 196 shares in the last quarter. Wellington Management Group LLP boosted its stake in Snap-On by 30.5% in the 2nd quarter. Wellington Management Group LLP now owns 35,470 shares of the company’s stock worth $14,273,000 after purchasing an additional 8,286 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new position in Snap-On during the 2nd quarter worth approximately $4,974,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 4,251 shares of the company’s 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 in the company, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. This trade represents a 4.38% 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 a total of 46,728 shares of company stock worth $18,803,009 over the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Stock Down 1.3%

Shares of Snap-On stock opened at $381.30 on Wednesday. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a 52-week low of $319.20 and a 52-week high of $423.02. The stock has a 50-day simple moving average of $403.96 and a 200-day simple moving average of $385.45.

Snap-On (NYSE:SNA) last released 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.72 earnings per share. On average, equities research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $2.44 per share. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio is 49.77%.

Analyst Ratings Changes

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