Hudson Edge Investment Partners Inc. Buys 69 Shares of Snap-on Incorporated (NYSE:SNA)

Hudson Edge Investment Partners Inc. increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,963 shares of the company’s stock after buying an additional 69 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Snap-on were worth $5,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI raised its position in shares of Snap-on by 9.0% in the fourth quarter. National Bank of Canada FI now owns 19,116 shares of the company’s stock valued at $5,518,000 after purchasing an additional 1,573 shares during the period. Private Advisor Group LLC lifted its position in shares of Snap-on by 1.2% during the 4th quarter. Private Advisor Group LLC now owns 9,768 shares of the company’s stock worth $2,821,000 after buying an additional 118 shares during the last quarter. Lincoln National Corp lifted its holdings in shares of Snap-on by 50.7% in the fourth quarter. Lincoln National Corp now owns 2,354 shares of the company’s stock worth $680,000 after acquiring an additional 792 shares during the last quarter. Principal Securities Inc. acquired a new stake in Snap-on in the fourth quarter valued at approximately $1,457,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Snap-on by 36.9% during the 4th quarter. Teacher Retirement System of Texas now owns 70,740 shares of the company’s stock valued at $20,433,000 after acquiring an additional 19,061 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNA shares. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective 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. Robert W. Baird lowered their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. One investment 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, Snap-on has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Stock Performance

Shares of NYSE SNA traded down $1.25 during midday trading on Friday, hitting $270.84. The company’s stock had a trading volume of 268,433 shares, compared to its average volume of 193,662. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. The stock has a fifty day moving average price of $273.16 and a 200 day moving average price of $276.31. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.94 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business earned $4.89 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Snap-on declared that its board has initiated a share buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction 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 owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock worth $8,077,390 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on 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.