Xponance Inc. Purchases 7,388 Shares of Snap-On Incorporated (NYSE:SNA)

Xponance Inc. lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 105.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,421 shares of the company’s stock after acquiring an additional 7,388 shares during the quarter. Xponance Inc.’s holdings in Snap-On were worth $4,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Alpine Bank Wealth Management bought a new stake in Snap-On in the first quarter valued at about $25,000. Golden State Wealth Management LLC grew its stake in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares during the period. Opal Wealth Advisors LLC acquired a new position in Snap-On in the first quarter valued at about $35,000. CoreFirst Bank & Trust acquired a new position in Snap-On in the fourth quarter valued at about $40,000. Finally, TCTC Holdings LLC grew its stake in Snap-On by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer directly owned 804,510 shares of the company’s stock, valued at $254,104,483.50. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,815 shares of company stock valued at $9,482,532. Insiders own 3.90% of the company’s stock.

Snap-On Stock Down 1.0%

SNA stock opened at $317.65 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The stock has a market capitalization of $16.61 billion, a P/E ratio of 16.63, a P/E/G ratio of 2.27 and a beta of 0.76. The business has a 50-day moving average of $317.94 and a 200-day moving average of $328.35. Snap-On Incorporated has a fifty-two week low of $266.55 and a fifty-two week 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 the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the prior year, the company earned $4.91 earnings per share. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.69%. Snap-On’s dividend payout ratio (DPR) is presently 44.82%.

Analysts Set New Price Targets

A number of research firms have issued reports on SNA. Robert W. Baird decreased their target price on Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Monday, May 19th. Finally, Longbow Research raised Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $350.83.

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.