Snap-on Incorporated (NYSE:SNA) Stake Raised by FCG Investment Co

FCG Investment Co raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,982 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Snap-on makes up 1.2% of FCG Investment Co’s investment portfolio, making the stock its 21st largest holding. FCG Investment Co’s holdings in Snap-on were worth $1,476,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SNA. Scarborough Advisors LLC acquired a new position in Snap-on in the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new position in shares of Snap-on in the fourth quarter worth $33,000. Exchange Traded Concepts LLC purchased a new stake in shares of Snap-on during the fourth quarter worth $43,000. Fortitude Family Office LLC acquired a new stake in Snap-on during the fourth quarter valued at $49,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Snap-on in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now owns 252 shares in the company, valued at approximately $66,822.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock worth $10,353,409 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.1 %

Shares of NYSE SNA traded down $0.17 during mid-day trading on Thursday, reaching $256.89. 146,092 shares of the company traded hands, compared to its average volume of 287,097. The company’s fifty day moving average is $269.76 and its two-hundred day moving average is $279.32. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a market cap of $13.54 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $4.60 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio is 39.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Wednesday, May 22nd. Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Profile

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.