Forum Private Client Group LLC Acquires Shares of 1,686 Snap-On Incorporated $SNA

Forum Private Client Group LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,686 shares of the company’s stock, valued at approximately $678,000. Snap-On accounts for about 0.2% of Forum Private Client Group LLC’s holdings, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position 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 valued at $36,000 after purchasing an additional 28 shares during the period. Verition Fund Management LLC increased its position in Snap-On by 1.5% during the fourth quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock worth $635,000 after buying an additional 28 shares during the period. CWM LLC increased its position in Snap-On by 0.6% during the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after buying an additional 31 shares during the period. Ritholtz Wealth Management lifted its stake in Snap-On by 2.4% in the first quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock valued at $521,000 after buying an additional 34 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in Snap-On by 9.7% in the fourth quarter. Oakworth Capital Inc. now owns 406 shares of the company’s stock valued at $140,000 after buying an additional 36 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the sale, the senior vice president owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a legal 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 dated 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 sale, the senior vice president directly owned 4,439 shares in the company, valued at approximately $1,704,220.88. The trade was a 48.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,928 shares of company stock worth $18,483,009 in the last ninety days. Insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. Barclays assumed coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial raised their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Roth Capital restated a “buy” rating and issued a $461.00 price objective (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 report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $426.20.

Snap-On Stock Up 0.5%

Snap-On stock opened at $393.11 on Friday. The stock has a 50 day moving average of $403.30 and a two-hundred day moving average of $384.56. Snap-On Incorporated has a twelve month low of $319.20 and a twelve month high of $423.02. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.77 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.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $4.72 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On announced that its Board of Directors has authorized a share buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 49.77%.

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.