Inceptionr LLC Takes $805,000 Position in Snap-On Incorporated $SNA

Inceptionr LLC purchased a new stake in shares of Snap-On Incorporated (NYSE:SNAFree Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,215 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On during the 4th quarter worth approximately $25,000. DV Equities LLC bought a new position in shares of Snap-On in the fourth quarter valued at approximately $25,000. Montag A & Associates Inc. grew its holdings in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Quattro Advisors LLC purchased a new stake in shares of Snap-On during the fourth quarter valued at approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-On

In related news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,117 shares of company stock valued at $14,003,922 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Snap-On News Roundup

Here are the key news stories impacting Snap-On this week:

Snap-On Trading Up 2.4%

Shares of Snap-On stock opened at $404.76 on Friday. The stock has a market capitalization of $20.97 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.78 and a beta of 0.73. Snap-On Incorporated has a 52-week low of $312.78 and a 52-week high of $419.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.43. The stock’s 50-day simple moving average is $389.57 and its 200 day simple moving average is $378.39.

Snap-On (NYSE:SNAGet Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $4.72 earnings per share. As a group, research analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has approved a stock repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is presently 50.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNA. Barclays began coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday. Roth Capital reaffirmed a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $418.20.

View Our Latest Research Report on Snap-On

Snap-On Company Profile

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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