Snap-On Incorporated $SNA is Mcrae Capital Management Inc.’s 9th Largest Position

Mcrae Capital Management Inc. decreased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,361 shares of the company’s stock after selling 1,902 shares during the period. Snap-On makes up 3.5% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Mcrae Capital Management Inc. owned approximately 0.09% of Snap-On worth $17,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in shares of Snap-On by 1.3% during the 4th quarter. TD Asset Management Inc now owns 24,828 shares of the company’s stock worth $8,556,000 after acquiring an additional 327 shares during the period. Cibc World Market Inc. raised its position in shares of Snap-On by 3.6% in the 4th quarter. Cibc World Market Inc. now owns 3,469 shares of the company’s stock worth $1,195,000 after acquiring an additional 120 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Snap-On by 57.6% in the 4th quarter. CIBC Asset Management Inc now owns 13,794 shares of the company’s stock valued at $4,753,000 after purchasing an additional 5,044 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Snap-On by 31.5% in the 4th quarter. Bank of New York Mellon Corp now owns 435,649 shares of the company’s stock valued at $150,124,000 after purchasing an additional 104,296 shares during the period. Finally, Peak Retirement Planning Inc. boosted its position in shares of Snap-On by 7.3% during the fourth quarter. Peak Retirement Planning Inc. now owns 5,807 shares of the company’s stock valued at $2,001,000 after purchasing an additional 395 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of Snap-On stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Roth Mkm restated a “buy” rating and set a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Stock Performance

Snap-On stock opened at $377.86 on Thursday. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $19.57 billion, a P/E ratio of 19.51, a PEG ratio of 2.62 and a beta of 0.73. The stock’s 50 day moving average is $372.03 and its 200 day moving average is $364.83.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $4.51 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On’s payout ratio is currently 50.39%.

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.