Stephens Inc. AR Raises Position in Snap-On Incorporated (SNA)

Stephens Inc. AR increased its holdings in Snap-On Incorporated (NYSE:SNA) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,758 shares of the company’s stock after acquiring an additional 312 shares during the quarter. Stephens Inc. AR’s holdings in Snap-On were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Snap-On by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 5,482,405 shares of the company’s stock worth $924,717,000 after acquiring an additional 158,474 shares in the last quarter. BlackRock Inc. increased its stake in shares of Snap-On by 2,077.9% in the 1st quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock worth $613,657,000 after acquiring an additional 3,471,155 shares in the last quarter. State Street Corp increased its stake in shares of Snap-On by 4.3% in the 1st quarter. State Street Corp now owns 2,505,691 shares of the company’s stock worth $422,636,000 after acquiring an additional 102,268 shares in the last quarter. FMR LLC increased its stake in shares of Snap-On by 0.3% in the 1st quarter. FMR LLC now owns 1,140,188 shares of the company’s stock worth $192,316,000 after acquiring an additional 3,670 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Snap-On by 59.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after acquiring an additional 422,366 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

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Shares of Snap-On Incorporated (NYSE:SNA) opened at 146.66 on Tuesday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.05. The firm’s 50-day moving average is $148.62 and its 200-day moving average is $159.33. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. During the same period in the prior year, the firm earned $2.36 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s payout ratio is 29.34%.

Snap-On announced that its board has approved a stock buyback plan on Monday, August 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research note on Wednesday, May 31st. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. FBR & Co reiterated an “outperform” rating and issued a $205.00 price target on shares of Snap-On in a research note on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $200.00 price target on shares of Snap-On in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Snap-On presently has a consensus rating of “Hold” and an average target price of $197.86.

In other Snap-On news, VP Iain Boyd sold 18,418 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Ann M. Gillis purchased 265 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.

Snap-On Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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