AMP Capital Investors Ltd Grows Position in Snap-on Incorporated (SNA)

AMP Capital Investors Ltd increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,523 shares of the company’s stock after purchasing an additional 562 shares during the period. AMP Capital Investors Ltd owned approximately 0.05% of Snap-on worth $4,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Snap-on by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after purchasing an additional 53,689 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Snap-on by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after purchasing an additional 34,012 shares during the last quarter. Earnest Partners LLC lifted its holdings in Snap-on by 3.8% during the 2nd quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after purchasing an additional 37,244 shares during the last quarter. Northern Trust Corp lifted its holdings in Snap-on by 0.8% during the 1st quarter. Northern Trust Corp now owns 957,476 shares of the company’s stock worth $141,266,000 after purchasing an additional 8,067 shares during the last quarter. Finally, Ariel Investments LLC lifted its holdings in Snap-on by 10.0% during the 2nd quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after purchasing an additional 84,287 shares during the last quarter.

In other news, CEO Nicholas T. Pinchuk sold 21,921 shares of Snap-on stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $157.88, for a total value of $3,460,887.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 21,624 shares of Snap-on stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $169.79, for a total value of $3,671,538.96. Following the completion of the transaction, the chairman now owns 443,955 shares in the company, valued at approximately $75,379,119.45. The disclosure for this sale can be found here. Insiders sold a total of 89,816 shares of company stock valued at $15,120,752 over the last ninety days. Insiders own 4.00% of the company’s stock.

Shares of NYSE SNA opened at $186.42 on Monday. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.53 and a beta of 1.17. The company has a quick ratio of 1.60, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a fifty-two week low of $141.63 and a fifty-two week high of $187.83.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 19th. The company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.95 by $0.16. The firm had revenue of $954.60 million during the quarter, compared to analysts’ expectations of $952.04 million. Snap-on had a return on equity of 21.04% and a net margin of 16.04%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 EPS. equities research analysts forecast that Snap-on Incorporated will post 11.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were issued a $0.82 dividend. The ex-dividend date was Thursday, August 16th. This represents a $3.28 annualized dividend and a yield of 1.76%. Snap-on’s dividend payout ratio is presently 32.41%.

SNA has been the subject of several research reports. Barrington Research reissued a “buy” rating on shares of Snap-on in a report on Monday, July 16th. Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a report on Tuesday, June 19th. Northcoast Research cut Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. B. Riley set a $205.00 price objective on Snap-on and gave the company a “buy” rating in a report on Tuesday, July 17th. Finally, ValuEngine raised Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $192.75.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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