Kera Capital Partners Inc. Purchases New Shares in Snap-On Incorporated $SNA

Kera Capital Partners Inc. acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,404 shares of the company’s stock, valued at approximately $514,000.

A number of other hedge funds have also recently bought and sold shares of SNA. Norges Bank bought a new position in shares of Snap-On in the fourth quarter valued at approximately $210,814,000. Victory Capital Management Inc. lifted its holdings in Snap-On by 346.0% during the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock worth $96,850,000 after acquiring an additional 216,813 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Snap-On in the fourth quarter worth $69,751,000. UBS Group AG boosted its position in Snap-On by 30.7% in the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock worth $212,832,000 after purchasing an additional 144,926 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Snap-On by 722.7% in the 4th quarter. Marshall Wace LLP now owns 138,302 shares of the company’s stock valued at $47,659,000 after purchasing an additional 121,491 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction on 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 sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,117 shares of company stock valued at $13,192,082 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNA shares. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Tigress Financial boosted their price target on shares of 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 price target on shares of Snap-On in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Robert W. Baird lifted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Price Performance

Shares of NYSE SNA opened at $388.01 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $376.60 and a two-hundred day simple moving average of $368.77. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.73.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $4.51 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Snap-On 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.