Orion Capital Management LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Orion Capital Management LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 192 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on in the 4th quarter valued at about $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on in the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC grew its holdings in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 1.4%

Shares of SNA stock opened at $322.23 on Thursday. The firm has a 50 day moving average price of $322.47 and a two-hundred day moving average price of $338.65. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $16.85 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the business earned $4.91 earnings per share. As a group, analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.66%. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday. Finally, StockNews.com upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

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.