Raiffeisen Bank International AG Boosts Position in Snap-On Incorporated $SNA

Raiffeisen Bank International AG grew its holdings in Snap-On Incorporated (NYSE:SNA) by 3,115.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,058 shares of the company’s stock after acquiring an additional 1,994 shares during the period. Raiffeisen Bank International AG’s holdings in Snap-On were worth $820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP raised its position in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after acquiring an additional 1,273 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after acquiring an additional 233 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after acquiring an additional 434 shares during the period. Finally, Natixis increased its stake in shares of Snap-On by 136.8% in the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Down 0.3%

Shares of SNA stock opened at $382.90 on Friday. The stock’s fifty day moving average is $403.10 and its two-hundred day moving average is $385.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The firm has a market capitalization of $19.81 billion, a P/E ratio of 19.53, a PEG ratio of 2.69 and a beta of 0.72. Snap-On Incorporated has a fifty-two week low of $320.80 and a fifty-two week high of $423.02.

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

Snap-On Announces Dividend

The firm also recently announced 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. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Insiders Place Their Bets

In other news, VP Richard Miller sold 2,000 shares of the business’s 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 $1,838,411.68. The trade was a 30.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Chambers sold 9,111 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the sale, the senior vice president directly owned 21,223 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 45,398 shares of company stock worth $18,298,580. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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