Jackson Creek Investment Advisors LLC Acquires New Shares in Snap-On Incorporated $SNA

Jackson Creek Investment Advisors LLC acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,890 shares of the company’s stock, valued at approximately $1,340,000.

A number of other large investors have also made changes to their positions in SNA. Integrity Alliance LLC. bought a new position in Snap-On during the 4th quarter worth about $207,000. AlphaQuest LLC increased its holdings in Snap-On by 212.4% during the 4th quarter. AlphaQuest LLC now owns 7,869 shares of the company’s stock worth $2,712,000 after purchasing an additional 5,350 shares in the last quarter. Harbour Investments Inc. increased its holdings in Snap-On by 140.6% during the 4th quarter. Harbour Investments Inc. now owns 474 shares of the company’s stock worth $163,000 after purchasing an additional 277 shares in the last quarter. Allstate Corp increased its holdings in Snap-On by 101.8% during the 4th quarter. Allstate Corp now owns 3,629 shares of the company’s stock worth $1,251,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after buying an additional 28 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNA. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Tigress Financial raised their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Robert W. Baird raised their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $381.20.

Snap-On Price Performance

Shares of NYSE:SNA opened at $372.39 on Thursday. The firm has a market cap of $19.29 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. The firm’s fifty day moving average is $370.95 and its 200-day moving average is $363.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On Incorporated has a 52 week low of $301.82 and a 52 week high of $400.88.

Snap-On (NYSE:SNA) last issued its quarterly 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 for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.51 EPS. Sell-side analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $2.44 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s payout ratio is presently 50.39%.

Snap-On declared that its board has initiated a stock repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the transaction, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

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.