Generali Asset Management SPA SGR Has $1.43 Million Position in Snap-On Incorporated $SNA

Generali Asset Management SPA SGR cut its stake in shares of Snap-On Incorporated (NYSE:SNA) by 30.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,143 shares of the company’s stock after selling 1,825 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Snap-On were worth $1,428,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Snap-On by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after purchasing an additional 31,073 shares during the last quarter. State Street Corp boosted its position in Snap-On by 1.6% during the third quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after purchasing an additional 36,130 shares during the last quarter. First Trust Advisors LP boosted its position in Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares during the last quarter. Nordea Investment Management AB boosted its position in Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Snap-On by 2.0% during the third quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock valued at $323,484,000 after purchasing an additional 18,549 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNA. Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Tigress Financial increased their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Robert W. Baird increased their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.20.

Snap-On Price Performance

NYSE:SNA opened at $373.59 on Monday. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $373.96 and its two-hundred day moving average price is $361.25. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 2.62 and a beta of 0.75. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. On average, analysts anticipate that Snap-On Incorporated will post 19.75 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its Board of Directors has authorized a share buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% 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. Over the last quarter, insiders have sold 55,046 shares of company stock worth $20,921,434. Company insiders own 3.80% of the company’s stock.

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.