Snap-On Incorporated (NYSE:SNA) Shares Acquired by Vision Capital Management Inc.

Vision Capital Management Inc. lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,646 shares of the company’s stock after purchasing an additional 178 shares during the quarter. Vision Capital Management Inc.’s holdings in Snap-On were worth $5,610,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Snap-On in the first quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Snap-On in the fourth quarter valued at $26,000. Golden State Wealth Management LLC boosted its holdings in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Snap-On in the first quarter valued at $35,000. Finally, CoreFirst Bank & Trust acquired a new position in Snap-On in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNA. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Monday, May 19th. Robert W. Baird reduced their price objective on Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Longbow Research upgraded Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $350.83.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer directly owned 804,510 shares of the company’s stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen L. Daniel sold 1,090 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock valued at $9,482,532 over the last three months. 3.90% of the stock is owned by insiders.

Snap-On Trading Up 1.1%

NYSE:SNA opened at $320.54 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. Snap-On Incorporated has a one year low of $256.54 and a one year high of $373.90. The business’s 50-day simple moving average is $317.75 and its 200 day simple moving average is $328.83. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter last year, the firm posted $4.91 EPS. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.67%. The ex-dividend date was Tuesday, May 20th. Snap-On’s dividend payout ratio is currently 44.82%.

About Snap-On

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.