Snap-On Incorporated $SNA is Kensington Investment Counsel LLC’s 5th Largest Position

Kensington Investment Counsel LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,151 shares of the company’s stock after selling 1,208 shares during the quarter. Snap-On accounts for approximately 3.5% of Kensington Investment Counsel LLC’s portfolio, making the stock its 5th largest holding. Kensington Investment Counsel LLC’s holdings in Snap-On were worth $7,319,000 at the end of the most recent reporting period.

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

Snap-On Stock Down 1.0%

SNA stock opened at $415.18 on Thursday. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $420.91. The stock has a market cap of $21.48 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 2.95 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $392.69 and its 200 day moving average is $379.77.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $4.72 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

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

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This trade represents a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 46,617 shares of company stock valued at $17,987,869. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays started coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Robert W. Baird set a $415.00 price objective on Snap-On in a report on Friday, July 24th. Roth Capital restated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Snap-On has an average rating of “Moderate Buy” and an average price target of $418.20.

About Snap-On

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.