Park Place Capital Corp Trims Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Park Place Capital Corp trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 36.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,055 shares of the company’s stock after selling 1,193 shares during the quarter. Park Place Capital Corp’s holdings in Snap-on were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new position in Snap-on during the 4th quarter worth $30,000. BKM Wealth Management LLC purchased a new position in Snap-on during the 4th quarter worth $33,000. Exchange Traded Concepts LLC purchased a new position in Snap-on during the 4th quarter worth $43,000. Orion Capital Management LLC purchased a new position in Snap-on during the 3rd quarter worth $49,000. Finally, Fortitude Family Office LLC purchased a new position in Snap-on during the 4th quarter worth $49,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird reduced their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Stock Down 1.7 %

NYSE SNA traded down $4.49 during midday trading on Monday, hitting $256.90. 376,308 shares of the company traded hands, compared to its average volume of 296,902. 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 company has a market cap of $13.54 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.98. The company’s 50-day simple moving average is $270.62 and its 200-day simple moving average is $279.91. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during 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%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 EPS. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.90%. Snap-on’s payout ratio is 39.03%.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock valued at $10,353,409 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

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.