Eurizon Capital SGR S.p.A. Takes $29.94 Million Position in Snap-On Incorporated $SNA

Eurizon Capital SGR S.p.A. purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 86,863 shares of the company’s stock, valued at approximately $29,939,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snap-On during the 4th quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On during the 4th quarter valued at approximately $28,000. Montag A & Associates Inc. lifted its position in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares during the period. Finally, United Community Bank acquired a new stake in shares of Snap-On during the 4th quarter valued at approximately $43,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNA has been the subject of a number of research reports. Roth Mkm reiterated 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 lifted their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Barclays started coverage on shares of Snap-On in a research note on Thursday. They set an “overweight” rating and a $420.00 price objective for the company. Robert W. Baird raised their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Trading Down 0.7%

Shares of SNA opened at $371.75 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a 50 day simple moving average of $371.30 and a 200-day simple moving average of $364.00. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.75.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $4.51 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed 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. This represents a $9.76 dividend on an annualized basis 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 has approved a stock buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of Snap-On stock in a transaction that occurred on Thursday, May 14th. The shares were 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. The trade was a 4.56% decrease in their position. The transaction was disclosed in a legal 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, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. 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. 3.80% of the stock is currently owned by insiders.

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.