Regents Gate Capital LLP Raises Stock Holdings in Snap-On Incorporated $SNA

Regents Gate Capital LLP raised its holdings in Snap-On Incorporated (NYSE:SNA) by 49.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,607 shares of the company’s stock after purchasing an additional 6,530 shares during the period. Snap-On comprises 2.4% of Regents Gate Capital LLP’s holdings, making the stock its 19th largest position. Regents Gate Capital LLP’s holdings in Snap-On were worth $6,794,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BankPlus Trust Department grew its stake in Snap-On by 5.9% in the 3rd quarter. BankPlus Trust Department now owns 541 shares of the company’s stock valued at $187,000 after acquiring an additional 30 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Snap-On by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $2,546,000 after purchasing an additional 31 shares in the last quarter. Cardinal Capital Management boosted its stake in Snap-On by 0.3% during the 3rd quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock worth $3,880,000 after purchasing an additional 32 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Snap-On by 13.5% during the second quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after buying an additional 33 shares in the last quarter. Finally, PAX Financial Group LLC grew its holdings in shares of Snap-On by 5.4% during the second quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock worth $206,000 after buying an additional 34 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Roth Mkm restated a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Tigress Financial lifted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the sale, the chief executive officer directly owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares in the company, valued at $7,502,332.40. This represents a 29.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 75,855 shares of company stock worth $27,629,827. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Down 0.4%

Shares of SNA stock opened at $384.95 on Monday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The firm has a market cap of $19.98 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a 50-day moving average of $367.79 and a two-hundred day moving average of $348.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.82 EPS. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

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.