Johnson Financial Group Inc. Invests $10.46 Million in Snap-On Incorporated $SNA

Johnson Financial Group Inc. acquired a new stake in Snap-On Incorporated (NYSE:SNA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,002 shares of the company’s stock, valued at approximately $10,463,000. Snap-On comprises about 0.3% of Johnson Financial Group Inc.’s investment portfolio, making the stock its 26th biggest position.

Several other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP grew its holdings in Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after acquiring an additional 1,273 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Snap-On by 100.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after acquiring an additional 233 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Snap-On by 32.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares in the last quarter. Finally, Natixis lifted its stake in shares of Snap-On by 136.8% in the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Snap-On news, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the transaction, the senior vice president directly owned 21,223 shares of the company’s stock, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a 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 dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 45,928 shares of company stock valued at $18,483,009. 3.80% of the stock is currently owned by insiders.

Snap-On Price Performance

SNA stock opened at $394.00 on Thursday. 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’s 50-day moving average is $403.06 and its 200-day moving average is $384.33. The stock has a market capitalization of $20.38 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.78 and a beta of 0.73. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $4.72 EPS. Equities research analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

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

Snap-On Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Tigress Financial upped their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Barclays assumed 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Finally, Roth Capital reaffirmed a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of 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 issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $426.20.

Snap-On Company 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.