Independent Financial Group LLC Invests $662,000 in Snap-On Incorporated $SNA

Independent Financial Group LLC acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,823 shares of the company’s stock, valued at approximately $662,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Snap-On during the 4th quarter valued at $25,000. DV Equities LLC purchased a new position in shares of Snap-On in the 4th quarter worth $25,000. Montag A & Associates Inc. boosted its stake in shares of Snap-On by 331.8% in 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. Quattro Advisors LLC bought a new stake in shares of Snap-On in the fourth quarter worth $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, 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 approximately $1,704,220.88. This represents a 48.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 37,117 shares of company stock valued at $14,003,922. Insiders own 3.80% of the company’s stock.

Snap-On Trading Up 0.8%

NYSE:SNA opened at $407.16 on Thursday. Snap-On Incorporated has a one year low of $312.78 and a one year high of $419.68. The business has a fifty day moving average price of $388.08 and a 200-day moving average price of $377.89. The firm has a market capitalization of $21.09 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm posted $4.51 earnings per share. Snap-On’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On’s payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Roth Capital reissued a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.20.

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.