Bayforest Capital Ltd Takes Position in Snap-On Incorporated $SNA

Bayforest Capital Ltd bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 403 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the 1st quarter worth about $25,000. Golden State Wealth Management LLC lifted its stake in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after buying an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the 1st quarter worth about $35,000. Finally, ORG Partners LLC lifted its stake in shares of Snap-On by 150.8% during the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock worth $54,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Tigress Financial lifted their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.00.

Snap-On Price Performance

Shares of NYSE:SNA opened at $333.70 on Friday. The firm has a 50 day moving average of $324.94 and a 200-day moving average of $322.95. The stock has a market capitalization of $17.41 billion, a PE ratio of 17.80, a PEG ratio of 2.31 and a beta of 0.77. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $278.75 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.07 EPS. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On’s payout ratio is presently 45.65%.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares of the company’s stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock valued at $8,983,203 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

About Snap-On

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.