Meeder Advisory Services Inc. Takes Position in Snap-On Incorporated $SNA

Meeder Advisory Services Inc. purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) during the second quarter, HoldingsChannel reports. The firm purchased 1,308 shares of the company’s stock, valued at approximately $526,000.

Several other institutional investors also recently modified their holdings of SNA. DV Equities LLC bought a new position in Snap-On during the 4th quarter worth $25,000. Western Wealth Management LLC acquired a new position in Snap-On during the 1st quarter worth about $29,000. Montag A & Associates Inc. grew its position in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Quattro Advisors LLC acquired a new stake in shares of Snap-On in the fourth quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was 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 directly owned 120,644 shares of the company’s stock, valued at $48,770,337. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the transaction, the senior vice president directly owned 4,439 shares in the company, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 45,928 shares of company stock valued at $18,483,009. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Performance

Shares of SNA stock opened at $391.28 on Friday. The firm has a 50 day moving average of $403.18 and a 200-day moving average of $384.50. The company has a market cap of $20.24 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 52 week low of $319.20 and a 52 week high of $423.02.

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

Snap-On declared that its Board of Directors has initiated a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $2.44 per share. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is currently 49.77%.

Analysts Set New Price Targets

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

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.