Alps Advisors Inc. Acquires 71,463 Shares of Snap-On Incorporated $SNA

Alps Advisors Inc. increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 852.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,847 shares of the company’s stock after buying an additional 71,463 shares during the quarter. Alps Advisors Inc.’s holdings in Snap-On were worth $27,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On during the fourth quarter worth $28,000. Montag A & Associates Inc. lifted its position in shares of Snap-On by 331.8% during 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. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares during the period. Finally, Manchester Capital Management LLC raised its stake in shares of Snap-On by 152.4% during the 4th quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNA. Roth Mkm reiterated a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Robert W. Baird boosted their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Tigress Financial boosted their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $387.67.

Insider Transactions at Snap-On

In other 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 transaction of $2,097,756.47. Following the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 427 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total value of $166,337.85. Following the sale, the vice president owned 4,527 shares of the company’s stock, valued at $1,763,492.85. This 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. Insiders have sold a total of 35,117 shares of company stock valued at $13,192,082 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $385.10 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $19.95 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73. The business’s 50-day moving average price is $374.44 and its 200-day moving average price is $366.97. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm 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%. Snap-On’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.51 earnings per share. Sell-side analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. 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 dividend payout ratio is 50.39%.

Snap-On announced that its Board of Directors has authorized a stock repurchase 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 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.