Regents Gate Capital LLP Buys 64,593 Shares of Snap-On Incorporated $SNA

Regents Gate Capital LLP lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2,584.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,092 shares of the company’s stock after acquiring an additional 64,593 shares during the period. Snap-On accounts for approximately 5.2% of Regents Gate Capital LLP’s portfolio, making the stock its 6th biggest holding. Regents Gate Capital LLP’s holdings in Snap-On were worth $24,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On in the 4th quarter valued at about $25,000. DV Equities LLC acquired a new stake in shares of Snap-On during the 4th quarter worth about $25,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On during the fourth quarter worth about $28,000. Montag A & Associates Inc. raised its position 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 buying an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC acquired a new position in shares of Snap-On in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Roth Capital reiterated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $408.20.

Snap-On Trading Down 1.0%

NYSE SNA opened at $411.01 on Friday. Snap-On Incorporated has a 12 month low of $312.78 and a 12 month high of $419.68. The company has a 50-day moving average of $385.83 and a 200-day moving average of $376.45. 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 company has a market cap of $21.29 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.89 and a beta of 0.73.

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

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On announced that its Board of Directors has approved a stock buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,117 shares of company stock worth $14,003,922 in the last 90 days. Company insiders own 3.80% of the company’s stock.

Snap-On Profile

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.