Vise Technologies Inc. Purchases Shares of 3,403 Snap-On Incorporated $SNA

Vise Technologies Inc. purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,403 shares of the company’s stock, valued at approximately $1,369,000.

A number of other hedge funds have also recently made changes to their positions in SNA. DV Equities LLC purchased a new stake in shares of Snap-On in the 4th quarter valued at $25,000. Western Wealth Management LLC purchased a new position in Snap-On in the 1st quarter worth $29,000. Montag A & Associates Inc. raised its position in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Quattro Advisors LLC bought a new stake in Snap-On in the fourth quarter worth $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction on 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 owned 120,644 shares of the company’s stock, valued at $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. The trade was a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 45,928 shares of company stock worth $18,483,009. Insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $393.11 on Friday. The company’s fifty day simple moving average is $403.30 and its two-hundred day simple moving average is $384.56. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02. The firm has a market cap of $20.34 billion, a PE ratio of 20.05, 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 (NYSE:SNA) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Snap-On’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.72 earnings per share. As a group, equities analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. 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%.

Analyst Ratings Changes

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

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.