Fox Run Management L.L.C. Purchases New Holdings in Snap-On Incorporated $SNA

Fox Run Management L.L.C. bought a new position in Snap-On Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,514 shares of the company’s stock, valued at approximately $866,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Kennebec Savings Bank boosted its holdings in Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after acquiring an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in 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 in the last quarter. CWM LLC boosted its holdings in Snap-On by 0.6% in the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after acquiring an additional 31 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Snap-On by 2.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after acquiring an additional 34 shares in the last quarter. Finally, MFA Wealth Services boosted its holdings in Snap-On by 2.9% in the third quarter. MFA Wealth Services now owns 1,236 shares of the company’s stock worth $428,000 after acquiring an additional 35 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction dated Tuesday, May 5th. The shares were 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 in the company, valued at approximately $322,004,076.86. This represents a 2.66% 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. Over the last ninety days, insiders have sold 30,439 shares of company stock worth $11,393,700. Corporate insiders own 3.80% of the company’s stock.

Snap-On Trading Down 2.2%

Shares of NYSE:SNA opened at $378.81 on Thursday. The company has a market cap of $19.62 billion, a P/E ratio of 19.56, a PEG ratio of 2.72 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 Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The stock’s fifty day moving average price is $374.00 and its 200-day moving average price is $366.63.

Snap-On (NYSE:SNA) last announced 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 the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.51 earnings per share. Sell-side analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On declared that its board has authorized a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio is presently 50.39%.

Analysts Set New Price Targets

SNA has been the topic of several analyst reports. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Roth Mkm reissued a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Tigress Financial boosted their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $387.67.

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.