Gallacher Capital Management LLC Purchases New Shares in Snap-on Incorporated (NYSE:SNA)

Gallacher Capital Management LLC acquired a new position in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,139 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. BKM Wealth Management LLC acquired a new position in shares of Snap-on during the 4th quarter worth about $33,000. Exchange Traded Concepts LLC acquired a new position in shares of Snap-on during the fourth quarter valued at approximately $43,000. Peoples Bank KS purchased a new position in shares of Snap-on in the third quarter valued at approximately $40,000. Fortitude Family Office LLC acquired a new stake in shares of Snap-on in the fourth quarter worth approximately $49,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Snap-on during the fourth quarter worth approximately $53,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Robert W. Baird lowered their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated 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 directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of the business’s 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 sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 49,930 shares of company stock valued at $14,089,523 over the last 90 days. 4.10% of the stock is owned by insiders.

Snap-on Trading Up 1.3 %

NYSE:SNA traded up $3.56 on Monday, hitting $274.59. The stock had a trading volume of 163,410 shares, compared to its average volume of 311,022. The company has a fifty day moving average price of $284.25 and a two-hundred day moving average price of $279.49. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.87 and a beta of 1.00.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $4.60 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.71%. Snap-on’s dividend payout ratio (DPR) is currently 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.