Regents Gate Capital LLP Boosts Stock Holdings in Snap-On Incorporated $SNA

Regents Gate Capital LLP lifted its stake in Snap-On Incorporated (NYSE:SNA) by 49.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,607 shares of the company’s stock after purchasing an additional 6,530 shares during the period. Snap-On comprises about 2.4% of Regents Gate Capital LLP’s holdings, making the stock its 19th largest holding. Regents Gate Capital LLP’s holdings in Snap-On were worth $6,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tobam acquired a new position in shares of Snap-On during the second quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Quent Capital LLC acquired a new position in Snap-On during the 3rd quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Snap-On in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 75,855 shares of company stock valued at $27,629,827. 3.90% of the stock is owned by company insiders.

Snap-On Stock Performance

Shares of Snap-On stock opened at $384.95 on Monday. The firm’s fifty day simple moving average is $367.79 and its 200-day simple moving average is $348.00. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $4.82 EPS. Snap-On’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Tigress Financial lifted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research report on Friday, February 6th. Roth Mkm reiterated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $377.33.

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.