Perbak Capital Partners LLP Increases Position in Snap-On Incorporated $SNA

Perbak Capital Partners LLP increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 104.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,049 shares of the company’s stock after acquiring an additional 2,068 shares during the period. Perbak Capital Partners LLP’s holdings in Snap-On were worth $1,403,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SNA. Vermillion & White Wealth Management Group LLC increased its holdings in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares during the period. SJS Investment Consulting Inc. grew its holdings in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Snap-On in the 3rd quarter valued at approximately $36,000. CoreFirst Bank & Trust purchased a new stake in shares of Snap-On in the 2nd quarter valued at approximately $37,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Snap-On during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial lifted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday, February 6th. Finally, Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the transaction, the chief executive officer directly owned 846,562 shares in the company, valued at $324,538,008.32. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,650 shares of company stock worth $15,210,959 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.9%

Snap-On stock opened at $367.55 on Friday. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The stock has a 50 day moving average of $372.86 and a two-hundred day moving average of $351.16. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.51 and a beta of 0.78.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio is presently 50.86%.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.