Caprock Group LLC Invests $638,000 in Snap-On Incorporated $SNA

Caprock Group LLC bought a new stake in Snap-On Incorporated (NYSE:SNA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,946 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tobam acquired a new position in shares of Snap-On during the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. SJS Investment Consulting Inc. raised its stake in shares of Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after buying an additional 94 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Snap-On in the third quarter valued at $36,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-On in the second quarter valued at $37,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research report on Friday, February 6th. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Roth Mkm restated a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $370.67.

Snap-On Stock Up 1.5%

Shares of Snap-On stock opened at $384.23 on Tuesday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company has a market cap of $19.95 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.65 and a beta of 0.81. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $361.16 and a 200 day moving average price of $344.05.

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

Snap-On Dividend Announcement

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 dividend of $2.44 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the transaction, the chief financial officer owned 111,888 shares in the company, valued at $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction dated 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 $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,036 shares of company stock worth $16,792,028 over the last 90 days. 3.90% of the stock is currently owned by 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.