Snap-On Incorporated $SNA Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 15.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,459 shares of the company’s stock after acquiring an additional 1,297 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Snap-On were worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On during the 4th quarter valued at $25,000. DV Equities LLC bought a new position in shares of Snap-On in the fourth quarter worth $25,000. Montag A & Associates Inc. increased its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Quattro Advisors LLC bought a new stake in shares of Snap-On during the fourth quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNA. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Roth Capital reiterated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday. Finally, Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $418.20.

Snap-On Price Performance

Shares of Snap-On stock opened at $407.27 on Tuesday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $390.45 and its two-hundred day moving average price is $378.91. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $419.68. The stock has a market cap of $21.07 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 EPS. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.67 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.4%. Snap-On’s dividend payout ratio is currently 49.77%.

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

Insider Buying and Selling at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 37,117 shares of company stock valued at $14,003,922. 3.80% of the stock is currently owned by corporate insiders.

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.