Snap-On Incorporated $SNA Position Raised by Syon Capital LLC

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On during the fourth quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in Snap-On during the fourth quarter worth approximately $28,000. Montag A & Associates Inc. raised its holdings in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Finally, United Community Bank bought a new stake in Snap-On during the fourth quarter worth approximately $43,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

NYSE SNA opened at $380.85 on Tuesday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.67 and a beta of 0.73. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The business’s fifty day moving average is $372.97 and its two-hundred day moving average is $365.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.

Snap-On (NYSE:SNA) last announced its earnings results 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). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm earned $4.51 earnings per share. Snap-On’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Snap-On Announces Dividend

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

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the sale, the chief financial officer directly owned 118,158 shares of the company’s stock, valued at $44,813,784.66. The trade was a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,439 shares of company stock worth $11,393,700. Company insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several recent analyst reports. Barclays began coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $387.67.

Snap-On Company 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.