Kensington Investment Counsel LLC Has $7.32 Million Holdings in Snap-On Incorporated $SNA

Kensington Investment Counsel LLC lessened its stake in shares of Snap-On Incorporated (NYSE:SNA) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,151 shares of the company’s stock after selling 1,208 shares during the quarter. Snap-On comprises approximately 3.5% of Kensington Investment Counsel LLC’s holdings, making the stock its 5th largest position. Kensington Investment Counsel LLC’s holdings in Snap-On were worth $7,319,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Snap-On by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after buying an additional 31,073 shares in the last quarter. State Street Corp boosted its stake in Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares in the last quarter. First Trust Advisors LP increased its position in Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after acquiring an additional 39,765 shares during the period. Finally, Auto Owners Insurance Co lifted its position in Snap-On by 34,360.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after purchasing an additional 1,022,210 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president owned 4,529 shares in the company, valued at $1,838,411.68. The trade was a 30.63% 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, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,617 shares of company stock valued at $17,987,869 over the last ninety days. Insiders own 3.80% of the company’s stock.

Snap-On Stock Down 1.0%

Shares of SNA opened at $415.18 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.95 and a beta of 0.73. Snap-On Incorporated has a 52 week low of $312.78 and a 52 week high of $420.91. The stock has a fifty day moving average of $392.69 and a 200-day moving average of $379.77.

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

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

Wall Street Analysts Forecast Growth

SNA has been the subject of several research reports. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research report on Friday, July 24th. Roth Capital reaffirmed a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

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.