Twin Capital Management Inc. Decreases Stake in Snap-On Incorporated $SNA

Twin Capital Management Inc. trimmed its position in Snap-On Incorporated (NYSE:SNA) by 29.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,786 shares of the company’s stock after selling 2,888 shares during the period. Twin Capital Management Inc.’s holdings in Snap-On were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNA. Robert W. Baird increased their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. 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 for the company. Roth Capital reaffirmed a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Trading Down 0.1%

SNA stock opened at $404.05 on Thursday. Snap-On Incorporated has a 52-week low of $310.23 and a 52-week high of $414.62. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.93 billion, a P/E ratio of 20.86, a PEG ratio of 2.85 and a beta of 0.73. The company’s 50-day simple moving average is $384.20 and its 200-day simple moving average is $375.77.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (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 analysts’ expectations of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.51 EPS. As a group, equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

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

Insider Transactions at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the sale, the senior vice president owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 37,117 shares of company stock worth $14,003,922. 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.