Los Angeles Capital Management LLC Buys 6,858 Shares of Snap-on Incorporated (NYSE:SNA)

Los Angeles Capital Management LLC grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 34.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,580 shares of the company’s stock after purchasing an additional 6,858 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Snap-on worth $7,874,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in Snap-on during the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new stake in Snap-on in the fourth quarter worth $33,000. Exchange Traded Concepts LLC purchased a new stake in Snap-on during the fourth quarter valued at $43,000. Itau Unibanco Holding S.A. bought a new position in Snap-on during the third quarter valued at $49,000. Finally, Orion Capital Management LLC purchased a new position in shares of Snap-on in the 3rd quarter worth $49,000. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. Insiders sold a total of 39,336 shares of company stock worth $10,563,314 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA stock opened at $269.31 on Thursday. The firm has a market capitalization of $14.20 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The stock has a 50 day moving average price of $272.93 and a 200 day moving average price of $280.72.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $4.60 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

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.