Caprock Group LLC Takes $305,000 Position in Snap-on Incorporated (NYSE:SNA)

Caprock Group LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,166 shares of the company’s stock, valued at approximately $305,000.

Several other large investors have also recently added to or reduced their stakes in SNA. Scarborough Advisors LLC acquired a new position in shares of Snap-on in the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on in the second quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in shares of Snap-on during the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its position in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after purchasing an additional 164 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Snap-on in the 1st quarter worth approximately $56,000. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock worth $8,077,390 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

NYSE:SNA opened at $277.87 on Friday. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $14.65 billion, a P/E ratio of 14.58, a PEG ratio of 1.88 and a beta of 0.98. The business’s 50-day moving average price is $274.74 and its 200 day moving average price is $276.44.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $4.89 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on declared that its board has initiated a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign 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 Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.68%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird lowered their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

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.