FORA Capital LLC Raises Holdings in Snap-on Incorporated (NYSE:SNA)

FORA Capital LLC boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 31.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,553 shares of the company’s stock after acquiring an additional 2,298 shares during the period. FORA Capital LLC’s holdings in Snap-on were worth $3,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. boosted its position in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on during the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-on during the fourth quarter worth $40,000. Finally, TCTC Holdings LLC boosted its position in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. StockNews.com upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Wednesday. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Thursday, April 17th. Finally, Robert W. Baird dropped their price objective on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,011 shares of company stock worth $12,116,859. Corporate insiders own 3.90% of the company’s stock.

Snap-on Stock Up 0.7 %

Shares of NYSE:SNA opened at $316.87 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.21 and a beta of 0.78. The business has a 50-day moving average price of $323.65 and a 200 day moving average price of $338.81. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the business posted $4.91 EPS. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on’s payout ratio is 44.82%.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.