Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $580,000 Position in Snap-On Incorporated $SNA

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,683 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors also recently added to or reduced their stakes in SNA. Vanguard Group Inc. lifted its stake in Snap-On by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after purchasing an additional 31,073 shares during the last quarter. State Street Corp grew its stake in shares of Snap-On by 1.6% during the third quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after buying an additional 36,130 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after buying an additional 23,863 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Snap-On by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock worth $454,206,000 after buying an additional 51,486 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Snap-On by 2.0% in the third quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock worth $323,484,000 after buying an additional 18,549 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP June C. Lemerand sold 1,378 shares of Snap-On stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,716 shares of company stock valued at $20,328,412. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Tigress Financial boosted their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Roth Mkm reissued a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Robert W. Baird upped their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.20.

Snap-On Trading Down 0.2%

NYSE:SNA opened at $362.44 on Friday. The company has a 50-day moving average price of $370.79 and a 200-day moving average price of $362.90. The stock has a market cap of $18.77 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.56 and a beta of 0.75. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company earned $4.51 earnings per share. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s dividend payout ratio is currently 50.39%.

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.