TFB Advisors LLC Takes Position in Snap-on Incorporated (NYSE:SNA)

TFB Advisors LLC acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,188 shares of the company’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Royal London Asset Management Ltd. boosted its stake in shares of Snap-on by 12.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after buying an additional 2,542 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Snap-on during the 4th quarter valued at about $1,119,000. Rockland Trust Co. bought a new position in shares of Snap-on in the 1st quarter worth approximately $889,000. Goldman Sachs Group Inc. boosted its holdings in shares of Snap-on by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after buying an additional 28,566 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Snap-on during the fourth quarter valued at approximately $1,203,000. Hedge funds and other institutional investors 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 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 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 document filed with the SEC, which is available at the SEC website. In related 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 completion of the sale, 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 accessible through this hyperlink. Also, SVP Jesus Arregui sold 8,434 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares of the company’s stock, valued at approximately $66,822.84. The disclosure for this sale can be found here. Insiders have sold 38,632 shares of company stock valued at $10,353,409 in the last quarter. 4.10% of the stock is owned by insiders.

Snap-on Trading Up 2.0 %

NYSE:SNA traded up $5.23 during midday trading on Wednesday, hitting $261.34. 297,789 shares of the company traded hands, compared to its average volume of 297,720. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The firm has a market capitalization of $13.78 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.78 and a beta of 0.98. The firm’s fifty day moving average is $268.66 and its 200-day moving average is $278.41.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 EPS. On average, sell-side analysts predict that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, May 17th. Snap-on’s payout ratio is currently 39.03%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNA shares. Robert W. Baird decreased their price target 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. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $316.75.

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.