Edmond DE Rothschild Holding S.A. Acquires New Shares in Snap-On Incorporated $SNA

Edmond DE Rothschild Holding S.A. bought a new stake in Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,814 shares of the company’s stock, valued at approximately $730,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. BlackRock Inc. acquired a new position in shares of Snap-On during the 2nd quarter worth about $1,715,363,000. Auto Owners Insurance Co raised its position in shares of Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after acquiring an additional 1,022,210 shares during the period. Norges Bank bought a new position in Snap-On during the 4th quarter worth approximately $210,814,000. Bank of New York Mellon Corp acquired a new position in Snap-On during the second quarter valued at approximately $174,736,000. Finally, Deutsche Bank AG acquired a new position in Snap-On during the second quarter valued at approximately $106,496,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of SNA stock opened at $391.28 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The company has a market capitalization of $20.24 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. The company’s 50 day moving average price is $403.18 and its two-hundred day moving average price is $384.50. Snap-On Incorporated has a 52 week low of $319.20 and a 52 week high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $4.72 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. 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 is presently 49.77%.

Snap-On announced that its Board of Directors has approved a share buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the topic of several analyst reports. Roth Capital reiterated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Tigress Financial raised their price objective on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $426.20.

Insider Activity

In related news, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total value of $3,820,788.96. Following the sale, the senior vice president owned 21,223 shares of the company’s stock, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% 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. In the last 90 days, insiders have sold 45,928 shares of company stock worth $18,483,009. 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.