Achmea Investment Management B.V. Buys 3,315 Shares of Snap-on Incorporated (NYSE:SNA)

Achmea Investment Management B.V. grew its stake in Snap-on Incorporated (NYSE:SNA) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,693 shares of the company’s stock after purchasing an additional 3,315 shares during the period. Achmea Investment Management B.V. owned approximately 0.10% of Snap-on worth $13,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Forsta AP Fonden lifted its stake in Snap-on by 89.6% in the second quarter. Forsta AP Fonden now owns 21,800 shares of the company’s stock worth $5,698,000 after purchasing an additional 10,300 shares during the last quarter. American Century Companies Inc. raised its position in Snap-on by 12.2% during the 2nd quarter. American Century Companies Inc. now owns 71,005 shares of the company’s stock valued at $18,560,000 after purchasing an additional 7,746 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Snap-on by 2.2% in the 2nd quarter. Bahl & Gaynor Inc. now owns 201,329 shares of the company’s stock worth $52,626,000 after buying an additional 4,324 shares during the period. AGF Management Ltd. grew its position in shares of Snap-on by 4.9% during the 2nd quarter. AGF Management Ltd. now owns 8,865 shares of the company’s stock worth $2,317,000 after buying an additional 418 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its position in shares of Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after buying an additional 443,333 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,804 shares of company stock worth $8,077,390. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Stock Up 0.2 %

NYSE:SNA opened at $276.27 on Thursday. The company’s 50-day simple moving average is $273.94 and its 200-day simple moving average is $276.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The stock has a market capitalization of $14.56 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.88 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. Snap-on’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.89 earnings per share. On average, equities analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.