Vision Capital Management Inc. Has $5.59 Million Stake in Snap-On Incorporated $SNA

Vision Capital Management Inc. trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 11.3% during the first quarter, HoldingsChannel.com reports. The fund owned 15,400 shares of the company’s stock after selling 1,959 shares during the quarter. Vision Capital Management Inc.’s holdings in Snap-On were worth $5,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Snap-On in the 4th quarter worth about $25,000. DV Equities LLC bought a new stake in Snap-On during the fourth quarter worth about $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On during the fourth quarter worth approximately $28,000. Montag A & Associates Inc. raised its stake in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC acquired a new position in shares of Snap-On in the 4th quarter worth approximately $35,000. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Robert W. Baird lifted their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Finally, Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $387.67.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 427 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the transaction, the vice president owned 4,527 shares of the company’s stock, valued at $1,763,492.85. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 35,117 shares of company stock worth $13,192,082. Corporate insiders own 3.80% of the company’s stock.

Snap-On Trading Up 0.3%

SNA opened at $403.54 on Thursday. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $406.30. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.83 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a 50 day simple moving average of $379.51 and a 200 day simple moving average of $371.82.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.Snap-On’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.51 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On’s payout ratio is 50.39%.

Snap-On declared that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.