Regents Gate Capital LLP lifted its position in shares of Snap-On Incorporated (NYSE:SNA – Free Report) by 2,584.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,092 shares of the company’s stock after purchasing an additional 64,593 shares during the period. Snap-On comprises about 5.2% of Regents Gate Capital LLP’s holdings, making the stock its 6th largest position. Regents Gate Capital LLP owned 0.13% of Snap-On worth $24,369,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co grew its stake in Snap-On by 34,360.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Norges Bank purchased a new stake in Snap-On in the fourth quarter valued at approximately $210,814,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Snap-On in the fourth quarter valued at approximately $69,751,000. UBS Group AG boosted its holdings in shares of Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after acquiring an additional 144,926 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Snap-On during the first quarter worth approximately $51,244,000. 84.88% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Snap-On
In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the transaction, the vice president directly owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 1,330 shares of Snap-On stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the transaction, the chief financial officer owned 118,158 shares of the company’s stock, valued at approximately $44,813,784.66. The trade was a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,117 shares of company stock valued at $14,003,922 in the last quarter. Insiders own 3.80% of the company’s stock.
Snap-On Stock Performance
Snap-On (NYSE:SNA – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.51 EPS. On average, sell-side analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.
Snap-On announced that its board has initiated a share repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Snap-On Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s payout ratio is currently 50.39%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on SNA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Roth Capital reiterated a “buy” rating and set a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $408.20.
Check Out Our Latest Research Report on Snap-On
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.
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