Snap-On Incorporated $SNA Stock Holdings Increased by Syon Capital LLC

Syon Capital LLC boosted its position in Snap-On Incorporated (NYSE:SNA) by 83.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,221 shares of the company’s stock after buying an additional 1,466 shares during the quarter. Syon Capital LLC’s holdings in Snap-On were worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On in the fourth quarter valued at about $25,000. GoalVest Advisory LLC acquired a new position in Snap-On in the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. boosted its stake in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares during the period. Finally, United Community Bank acquired a new position in Snap-On in the fourth quarter valued at approximately $43,000. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 30,439 shares of company stock valued at $11,393,700. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Tigress Financial lifted their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Robert W. Baird lifted their target price on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Roth Mkm restated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Stock Performance

Shares of NYSE SNA opened at $380.85 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $372.97 and a 200-day simple moving average of $365.89. The company has a market cap of $19.73 billion, a PE ratio of 19.66, a P/E/G ratio of 2.67 and a beta of 0.73. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.51 earnings per share. On average, equities research analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has approved a stock buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s payout ratio is currently 50.39%.

Snap-On Profile

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.