Kera Capital Partners Inc. Takes $514,000 Position in Snap-On Incorporated $SNA

Kera Capital Partners Inc. acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,404 shares of the company’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. DNB Asset Management AS lifted its position in shares of Snap-On by 65.5% in the third quarter. DNB Asset Management AS now owns 23,702 shares of the company’s stock valued at $8,213,000 after buying an additional 9,377 shares during the last quarter. Pensionfund Sabic acquired a new position in shares of Snap-On during the 4th quarter worth approximately $1,206,000. First Horizon Corp acquired a new position in shares of Snap-On during the 4th quarter worth approximately $4,068,000. Bahl & Gaynor Inc. raised its stake in Snap-On by 1.3% in the 3rd quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock valued at $132,126,000 after acquiring an additional 4,932 shares during the period. Finally, Nordea Investment Management AB raised its stake in Snap-On by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after acquiring an additional 51,486 shares during the period. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Robert W. Baird lifted their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, 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 on the stock. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Snap-On has an average rating of “Moderate Buy” and an average target price of $387.67.

Insider Activity at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Thomas Miller sold 427 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the transaction, the vice president directly owned 4,527 shares in the company, valued at approximately $1,763,492.85. This trade represents a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 35,117 shares of company stock valued at $13,192,082. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Performance

NYSE:SNA opened at $388.01 on Friday. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The company has a 50 day simple moving average of $376.60 and a two-hundred day simple moving average of $368.77. The company has a market capitalization of $20.10 billion, a PE ratio of 20.03, a P/E/G ratio of 2.72 and a beta of 0.73.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) 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 firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $4.51 EPS. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s payout ratio is currently 50.39%.

Snap-On announced that its Board of Directors has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Snap-On

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.