&Partners Takes Position in Snap-on Incorporated (NYSE:SNA)

&Partners bought a new stake in Snap-on Incorporated (NYSE:SNA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 820 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $33,000. Exchange Traded Concepts LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $43,000. Fortitude Family Office LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $49,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNA. Robert W. Baird cut their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Trading Down 0.7 %

Shares of NYSE SNA opened at $266.75 on Monday. The stock has a market capitalization of $14.06 billion, a PE ratio of 14.00, a PEG ratio of 1.86 and a beta of 0.99. The stock has a fifty day simple moving average of $272.01 and a 200-day simple moving average of $280.55. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $4.60 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a $1.86 dividend. The ex-dividend date was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.79%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Activity at Snap-on

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