GAMMA Investing LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

GAMMA Investing LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 402 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in Snap-on in the 4th quarter valued at $33,000. Exchange Traded Concepts LLC purchased a new position in Snap-on during the 4th quarter worth $43,000. Peoples Bank KS purchased a new position in Snap-on during the 3rd quarter worth $40,000. Fortitude Family Office LLC purchased a new position in Snap-on during the 4th quarter worth $49,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Snap-on during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,930 shares of company stock worth $14,089,523. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Up 0.2 %

Shares of SNA stock opened at $270.70 on Monday. The firm has a market cap of $14.27 billion, a P/E ratio of 14.20, a PEG ratio of 1.87 and a beta of 0.99. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The firm’s 50-day simple moving average is $284.28 and its 200-day simple moving average is $278.86.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $4.60 earnings per share. Snap-on’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts forecast that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s payout ratio is 39.03%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNA. Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barrington Research reissued an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.