Snap-On Incorporated $SNA Stake Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Snap-On Incorporated (NYSE:SNA) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 302,631 shares of the company’s stock after buying an additional 4,350 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.59% of Snap-On worth $121,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SNA. BlackRock Inc. acquired a new stake in shares of Snap-On in the 2nd quarter worth about $1,715,363,000. State Street Corp grew its position in Snap-On by 1.3% in the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Snap-On by 3.3% in the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after purchasing an additional 65,521 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-On by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares during the period. Finally, Auto Owners Insurance Co raised its holdings in shares of Snap-On by 34,360.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE:SNA opened at $381.30 on Wednesday. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The stock’s 50 day moving average price is $403.96 and its 200 day moving average price is $385.45.

Snap-On (NYSE:SNA) last issued its quarterly 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. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $4.72 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s payout ratio is presently 49.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SNA. 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 report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Robert W. Baird set a $415.00 price target on Snap-On in a research note on Friday, July 24th. Barclays started coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Finally, Tigress Financial lifted their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $426.20.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 867,779 shares in the company, valued at approximately $346,842,588.51. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the completion of the transaction, the senior vice president directly owned 21,223 shares in the company, valued at $8,900,077.28. This represents a 30.04% 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. Insiders sold 46,728 shares of company stock valued at $18,803,009 in the last quarter. 3.80% of the stock is owned by company insiders.

Snap-On Company 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.