Snap-On Incorporated $SNA is Hamlin Capital Management LLC’s 8th Largest Position

Hamlin Capital Management LLC decreased its position in shares of Snap-On Incorporated (NYSE:SNA) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 457,430 shares of the company’s stock after selling 12,791 shares during the period. Snap-On accounts for approximately 4.1% of Hamlin Capital Management LLC’s portfolio, making the stock its 8th biggest position. Hamlin Capital Management LLC’s holdings in Snap-On were worth $184,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snap-On during the 4th quarter valued at about $25,000. DV Equities LLC bought a new position in Snap-On during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new stake in Snap-On in the first quarter valued at approximately $29,000. Montag A & Associates Inc. grew its position in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in shares of Snap-On during the 4th quarter worth $35,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, SVP Timothy L. Chambers sold 9,111 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the completion of the transaction, the senior vice president directly owned 21,223 shares in the company, valued at $8,900,077.28. The trade was a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 sale, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,221 shares of company stock worth $9,196,355 in the last 90 days. 3.80% of the stock is owned by company insiders.

Snap-On Stock Up 0.2%

Snap-On stock opened at $418.97 on Thursday. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a fifty-two week low of $318.99 and a fifty-two week high of $421.16. The firm has a fifty day moving average price of $397.21 and a two-hundred day moving average price of $381.61.

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

Snap-On declared that its board has approved a stock buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.