2,211 Shares in Snap-On Incorporated $SNA Bought by Redwood Investment Management LLC

Redwood Investment Management LLC acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,211 shares of the company’s stock, valued at approximately $890,000.

Other large investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after buying an additional 28 shares during the period. Verition Fund Management LLC grew its position in shares of Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after buying an additional 28 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Snap-On by 2.4% in the first quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock valued at $521,000 after buying an additional 34 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Snap-On by 5.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 758 shares of the company’s stock valued at $261,000 after buying an additional 39 shares during the period. Finally, CX Institutional raised its position in shares of Snap-On by 10.6% during the second quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after acquiring an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the sale, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at approximately $346,842,588.51. This trade represents a 2.57% decrease in their position. 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 three months, insiders sold 46,728 shares of company stock worth $18,803,009. Company insiders own 3.80% of the company’s stock.

Snap-On Stock Performance

SNA stock opened at $395.94 on Friday. The firm has a market cap of $20.48 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.73. 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 stock has a 50-day moving average price of $404.06 and a 200-day moving average price of $385.23. Snap-On Incorporated has a 1-year low of $319.20 and a 1-year high of $423.02.

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

Snap-On announced that its board has authorized a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication 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 paid a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is 49.77%.

Analyst Ratings Changes

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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target 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.