SBI Okasan Asset Management Co.Ltd. Purchases Shares of 2,000 Snap-On Incorporated $SNA

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,000 shares of the company’s stock, valued at approximately $702,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,185 shares in the last quarter. Woodline Partners LP boosted its stake in Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after purchasing an additional 233 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis boosted its stake in Snap-On by 136.8% during 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 in the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research note 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 note on Friday, February 27th. Barclays assumed coverage on Snap-On in a research note on Thursday. They set an “overweight” rating and a $420.00 price target for the company. Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Stock Performance

SNA opened at $371.75 on Friday. The firm has a market cap of $19.26 billion, a PE ratio of 19.19, a P/E/G ratio of 2.63 and a beta of 0.75. 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 business has a fifty day simple moving average of $371.30 and a 200-day simple moving average of $364.00. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week 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 for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 earnings per share. As a group, equities analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

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

Snap-On announced that its Board of Directors has approved a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This trade represents a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

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.