Jacobs Levy Equity Management Inc. Purchases New Position in Snap-On Incorporated $SNA

Jacobs Levy Equity Management Inc. bought a new position in shares of Snap-On Incorporated (NYSE:SNA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,892 shares of the company’s stock, valued at approximately $1,986,000.

Several other large investors have also made changes to their positions in the company. Gotham Asset Management LLC boosted its position in Snap-On by 19.9% in the first quarter. Gotham Asset Management LLC now owns 33,491 shares of the company’s stock valued at $11,287,000 after buying an additional 5,549 shares in the last quarter. Hancock Whitney Corp raised its stake in Snap-On by 1,126.7% during the first quarter. Hancock Whitney Corp now owns 21,344 shares of the company’s stock worth $7,193,000 after buying an additional 19,604 shares during the last quarter. Eventide Asset Management LLC bought a new stake in Snap-On in the first quarter valued at $256,000. AQR Capital Management LLC increased its stake in Snap-On by 7.9% in the first quarter. AQR Capital Management LLC now owns 280,347 shares of the company’s stock valued at $93,075,000 after purchasing an additional 20,436 shares in the last quarter. Finally, Amundi increased its stake in Snap-On by 9.6% in the first quarter. Amundi now owns 220,423 shares of the company’s stock valued at $73,034,000 after purchasing an additional 19,216 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 in the last three months. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Bank of America lifted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Robert W. Baird lifted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.00.

Snap-On Stock Performance

Shares of SNA stock opened at $324.21 on Thursday. The firm’s 50 day moving average is $324.47 and its 200 day moving average is $323.04. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $16.91 billion, a P/E ratio of 17.29, a PEG ratio of 2.24 and a beta of 0.77. Snap-On Incorporated has a 12 month low of $269.58 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.07 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio is presently 45.65%.

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.