Forum Private Client Group LLC Takes $678,000 Position in Snap-On Incorporated $SNA

Forum Private Client Group LLC acquired a new position in Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,686 shares of the company’s stock, valued at approximately $678,000. Snap-On comprises 0.2% of Forum Private Client Group LLC’s portfolio, making the stock its 21st biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY acquired a new stake in shares of Snap-On during the first quarter worth about $51,244,000. QRG Capital Management Inc. grew its holdings in shares of Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock valued at $31,545,000 after purchasing an additional 7,798 shares in the last quarter. Fisher Asset Management LLC increased its stake in Snap-On by 21.8% during the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock worth $22,750,000 after buying an additional 11,808 shares during the period. Hsbc Holdings PLC increased its stake in Snap-On by 0.9% during the 4th quarter. Hsbc Holdings PLC now owns 374,236 shares of the company’s stock worth $128,974,000 after buying an additional 3,321 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Snap-On by 8.0% during the 1st quarter. Sanctuary Advisors LLC now owns 36,690 shares of the company’s stock worth $13,326,000 after buying an additional 2,714 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares in the company, valued at $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 of the company’s stock, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 45,928 shares of company stock worth $18,483,009. Corporate insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $393.11 on Friday. Snap-On Incorporated has a twelve month low of $319.20 and a twelve month high of $423.02. The firm’s fifty day simple moving average is $403.30 and its 200-day simple moving average is $384.56. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.77 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.72 earnings per share. Equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio is currently 49.77%.

Wall Street Analyst Weigh In

SNA has been the subject of several research reports. Roth Capital restated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial lifted their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays started coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Robert W. Baird set a $415.00 price target on Snap-On in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.20.

Snap-On Company 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.