Snap-On Incorporated $SNA Shares Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG raised its stake in Snap-On Incorporated (NYSE:SNA) by 3,115.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,058 shares of the company’s stock after buying an additional 1,994 shares during the quarter. Raiffeisen Bank International AG’s holdings in Snap-On were worth $820,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Miller Howard Investments Inc. NY acquired a new stake in Snap-On during the 1st quarter worth approximately $51,244,000. QRG Capital Management Inc. grew its stake in shares of Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock worth $31,545,000 after acquiring an additional 7,798 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Snap-On by 21.8% during the fourth quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock worth $22,750,000 after acquiring an additional 11,808 shares during the period. Hsbc Holdings PLC increased its position in shares of Snap-On by 0.9% during the fourth quarter. Hsbc Holdings PLC now owns 374,236 shares of the company’s stock worth $128,974,000 after acquiring an additional 3,321 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Snap-On by 8.0% in the first quarter. Sanctuary Advisors LLC now owns 36,690 shares of the company’s stock valued at $13,326,000 after purchasing an additional 2,714 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap-On

In related news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the sale, the vice president directly owned 1,526 shares in the company, valued at $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the sale, the chief executive officer owned 867,779 shares in the company, valued at $346,842,588.51. This trade represents a 2.57% decrease in their position. 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 45,398 shares of company stock valued at $18,298,580 in the last quarter. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Roth Capital reissued 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Robert W. Baird set a $415.00 target price on shares of Snap-On in a report on Friday, July 24th. Finally, Tigress Financial lifted 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Trading Down 0.3%

NYSE:SNA opened at $382.90 on Friday. The stock has a 50-day simple moving average of $403.10 and a 200-day simple moving average of $385.45. The stock has a market cap of $19.81 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.69 and a beta of 0.72. Snap-On Incorporated has a 1 year low of $320.80 and a 1 year high of $423.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion for 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $4.72 EPS. As a group, 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 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 of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is presently 49.77%.

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.