Bryn Mawr Capital Management LLC Increases Stake in Snap-on Incorporated (NYSE:SNA)

Bryn Mawr Capital Management LLC boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,480 shares of the company’s stock after purchasing an additional 425 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Snap-on were worth $4,916,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Snap-on by 122.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company’s stock worth $2,746,000 after acquiring an additional 5,212 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Snap-on by 1.5% in the third quarter. Private Advisor Group LLC now owns 9,649 shares of the company’s stock valued at $2,795,000 after purchasing an additional 142 shares during the period. International Assets Investment Management LLC raised its stake in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Snap-on by 13.9% during the third quarter. Ballentine Partners LLC now owns 1,130 shares of the company’s stock worth $327,000 after purchasing an additional 138 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Snap-on by 19.0% in the third quarter. State of Alaska Department of Revenue now owns 15,589 shares of the company’s stock valued at $4,515,000 after buying an additional 2,485 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Up 1.7 %

Shares of SNA stock opened at $341.66 on Wednesday. The stock has a market cap of $17.90 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The stock has a 50 day moving average of $343.32 and a 200 day moving average of $324.87. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the business earned $4.75 earnings per share. As a group, sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.51%. Snap-on’s payout ratio is 43.90%.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Company Profile

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.