Perbak Capital Partners LLP Increases Stock Holdings in Snap-On Incorporated $SNA

Perbak Capital Partners LLP raised its holdings in Snap-On Incorporated (NYSE:SNA) by 104.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,049 shares of the company’s stock after buying an additional 2,068 shares during the quarter. Perbak Capital Partners LLP’s holdings in Snap-On were worth $1,403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNA. Vermillion & White Wealth Management Group LLC raised its stake in shares of 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 purchasing an additional 47 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after buying an additional 94 shares during the last quarter. Quent Capital LLC acquired a new position in Snap-On in the 3rd quarter worth approximately $36,000. CoreFirst Bank & Trust acquired a new position in Snap-On in the 2nd quarter worth approximately $37,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Snap-On during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $367.55 on Friday. The company has a market cap of $19.08 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.51 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The company’s 50-day moving average price is $372.86 and its 200-day moving average price is $351.16. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

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

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s payout ratio is presently 50.86%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Tigress Financial lifted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 price target on Snap-On in a research report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Activity

In other Snap-On news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. The trade was a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the sale, the chief financial officer directly owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,650 shares of company stock valued at $15,210,959 in the last ninety days. 3.90% of the stock is currently owned by company insiders.

About Snap-On

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.