Regents Gate Capital LLP Sells 17,108 Shares of Snap-On Incorporated $SNA

Regents Gate Capital LLP lessened its position in shares of Snap-On Incorporated (NYSE:SNA) by 87.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,499 shares of the company’s stock after selling 17,108 shares during the quarter. Regents Gate Capital LLP’s holdings in Snap-On were worth $861,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after acquiring an additional 1,185 shares during the period. Woodline Partners LP lifted its position in shares of Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Snap-On by 100.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after acquiring an additional 233 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the period. Finally, Natixis lifted its holdings in Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Thomas Miller sold 427 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the completion of the transaction, the vice president owned 4,527 shares of the company’s stock, valued at approximately $1,763,492.85. This trade represents a 8.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 35,117 shares of company stock valued at $13,192,082. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNA shares. Tigress Financial increased their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Robert W. Baird upped their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm reissued a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Finally, Barclays assumed coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Five investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Stock Up 1.8%

Shares of SNA stock opened at $385.10 on Friday. Snap-On Incorporated has a 52 week low of $301.82 and a 52 week high of $400.88. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $374.44 and its two-hundred day simple moving average is $366.97. The stock has a market cap of $19.95 billion, a P/E ratio of 19.88, a PEG ratio of 2.66 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $4.51 earnings per share. Analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid 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 payout ratio is presently 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.