Leeward Investments LLC MA Purchases New Stake in Snap-on Incorporated (NYSE:SNA)

Leeward Investments LLC MA purchased a new stake in Snap-on Incorporated (NYSE:SNAGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 64,307 shares of the company’s stock, valued at approximately $13,214,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Snap-on in the first quarter valued at approximately $27,000. Lumature Wealth Partners LLC increased its holdings in shares of Snap-on by 63.4% in the fourth quarter. Lumature Wealth Partners LLC now owns 152 shares of the company’s stock valued at $33,000 after purchasing an additional 59 shares during the last quarter. Bromfield Sneider Wealth Advisors purchased a new position in Snap-on in the first quarter worth approximately $38,000. Tobam grew its position in Snap-on by 40.8% in the first quarter. Tobam now owns 259 shares of the company’s stock worth $53,000 after acquiring an additional 75 shares during the period. Finally, Institutional & Family Asset Management LLC purchased a new position in Snap-on in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNA shares. Tigress Financial increased their price objective on Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a research report on Monday, April 25th. UBS Group lowered their price objective on Snap-on to $175.00 in a research report on Friday, July 22nd. Finally, MKM Partners started coverage on Snap-on in a research report on Thursday, June 9th. They issued a “neutral” rating and a $238.00 price objective for the company.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 488 shares of Snap-on stock in a transaction on Friday, August 5th. The stock was sold at an average price of $223.31, for a total value of $108,975.28. Following the completion of the transaction, the senior vice president now directly owns 2,409 shares in the company, valued at $537,953.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 19,394 shares of Snap-on stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $216.58, for a total value of $4,200,352.52. Following the completion of the transaction, the chief executive officer now directly owns 622,123 shares in the company, valued at $134,739,399.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 488 shares of Snap-on stock in a transaction on Friday, August 5th. The shares were sold at an average price of $223.31, for a total value of $108,975.28. Following the completion of the transaction, the senior vice president now owns 2,409 shares of the company’s stock, valued at $537,953.79. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Snap-on Trading Down 0.0 %

SNA opened at $223.00 on Friday. Snap-on Incorporated has a 52 week low of $190.08 and a 52 week high of $235.36. The business has a fifty day simple moving average of $208.44 and a 200-day simple moving average of $210.96. The firm has a market cap of $11.88 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNAGet Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.91 by $0.36. Snap-on had a return on equity of 20.51% and a net margin of 19.83%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business posted $3.76 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Snap-on Incorporated will post 15.93 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is currently 35.63%.

Snap-on Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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