Royal London Asset Management Ltd. Has $5.92 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Royal London Asset Management Ltd. raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,650 shares of the company’s stock after purchasing an additional 203 shares during the period. Royal London Asset Management Ltd.’s holdings in Snap-on were worth $5,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Snap-on during the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at about $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Snap-on in the 1st quarter valued at about $56,000. Finally, Versant Capital Management Inc increased its stake in shares of Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on SNA shares. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Robert W. Baird lowered their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Price Performance

NYSE SNA opened at $280.44 on Friday. The business has a 50 day simple moving average of $274.74 and a 200 day simple moving average of $276.44. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.92 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $4.89 EPS. Snap-on’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.65%. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on announced that its board has approved a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Company Profile

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