Fox Run Management L.L.C. Buys Shares of 2,514 Snap-On Incorporated $SNA

Fox Run Management L.L.C. bought a new stake in Snap-On Incorporated (NYSE:SNA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,514 shares of the company’s stock, valued at approximately $866,000.

A number of other institutional investors also recently bought and sold shares of the company. LPL Financial LLC increased its position in Snap-On by 70.1% in the fourth quarter. LPL Financial LLC now owns 144,271 shares of the company’s stock worth $49,716,000 after buying an additional 59,461 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Snap-On by 0.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,236 shares of the company’s stock worth $4,217,000 after buying an additional 71 shares in the last quarter. Manchester Capital Management LLC increased its position in Snap-On by 152.4% in the fourth quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock worth $37,000 after buying an additional 64 shares in the last quarter. SouthState Bank Corp increased its position in Snap-On by 6.1% in the fourth quarter. SouthState Bank Corp now owns 27,599 shares of the company’s stock worth $9,511,000 after buying an additional 1,598 shares in the last quarter. Finally, Syon Capital LLC increased its position in Snap-On by 83.5% in the fourth quarter. Syon Capital LLC now owns 3,221 shares of the company’s stock worth $1,110,000 after buying an additional 1,466 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $378.81 on Thursday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The stock has a 50-day moving average price of $374.00 and a 200 day moving average price of $366.63. The stock has a market capitalization of $19.62 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.72 and a beta of 0.73.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $4.51 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On announced that its board has initiated a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 1,330 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total value of $504,429.10. Following the sale, the chief financial officer owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This represents a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,439 shares of company stock valued at $11,393,700 in the last quarter. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on SNA shares. Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Roth Mkm restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Barclays started coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

Snap-On Company 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.