Resources Management Corp CT ADV Decreases Stock Position in Snap-On Incorporated $SNA

Resources Management Corp CT ADV cut its holdings in Snap-On Incorporated (NYSE:SNA) by 84.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,625 shares of the company’s stock after selling 42,910 shares during the quarter. Resources Management Corp CT ADV’s holdings in Snap-On were worth $2,628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MML Investors Services LLC raised its stake in Snap-On by 7.2% in the fourth quarter. MML Investors Services LLC now owns 134,061 shares of the company’s stock valued at $46,197,000 after buying an additional 9,053 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Snap-On by 153.0% in the fourth quarter. Focus Partners Wealth now owns 48,484 shares of the company’s stock valued at $16,708,000 after purchasing an additional 29,324 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Snap-On by 2,081.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 45,055 shares of the company’s stock valued at $15,526,000 after purchasing an additional 42,990 shares during the period. Brown Advisory Inc. increased its holdings in shares of Snap-On by 0.4% in the fourth quarter. Brown Advisory Inc. now owns 20,976 shares of the company’s stock valued at $7,228,000 after purchasing an additional 90 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Snap-On in the fourth quarter valued at about $144,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Down 0.1%

Snap-On stock opened at $387.01 on Monday. The firm has a market cap of $20.05 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.73. Snap-On Incorporated has a 52 week low of $301.82 and a 52 week high of $400.88. The business’s 50-day moving average price is $374.84 and its 200 day moving average price is $367.35. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company 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 firm’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $4.51 earnings per share. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

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

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the sale, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,117 shares of company stock valued at $13,192,082 in the last three months. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNA shares. Barclays started coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.