Telemus Capital LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Telemus Capital LLC bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,071 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors have also recently made changes to their positions in SNA. DnB Asset Management AS raised its position in shares of Snap-on by 11.4% in the third quarter. DnB Asset Management AS now owns 13,292 shares of the company’s stock worth $3,390,000 after buying an additional 1,355 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Snap-on by 25.8% in the third quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock worth $1,133,000 after buying an additional 910 shares in the last quarter. 1900 Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter worth $904,000. Park Place Capital Corp raised its position in shares of Snap-on by 8.4% in the third quarter. Park Place Capital Corp now owns 3,292 shares of the company’s stock worth $840,000 after buying an additional 254 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Snap-on by 0.4% in the third quarter. GHP Investment Advisors Inc. now owns 26,178 shares of the company’s stock worth $6,640,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the transaction, the chief financial officer now owns 95,661 shares of the company’s stock, valued at $26,014,052.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Stock Down 0.1 %

NYSE SNA opened at $268.56 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The stock has a market capitalization of $14.16 billion, a PE ratio of 14.09, a PEG ratio of 1.92 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $247.68 and a 1 year high of $298.49. The business’s 50-day moving average is $283.80 and its 200 day moving average is $278.68.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. Sell-side analysts forecast that Snap-on Incorporated will post 19.24 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.77%. Snap-on’s payout ratio is 39.03%.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.