Snap-on Incorporated (NYSE:SNA) Shares Purchased by Birch Capital Management LLC

Birch Capital Management LLC boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,859 shares of the company’s stock after purchasing an additional 1,162 shares during the quarter. Birch Capital Management LLC’s holdings in Snap-on were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in shares of Snap-on by 4.7% during the third quarter. Creative Planning now owns 9,909 shares of the company’s stock worth $2,871,000 after buying an additional 446 shares during the period. Empirical Asset Management LLC grew its holdings in Snap-on by 105.0% during the 3rd quarter. Empirical Asset Management LLC now owns 2,040 shares of the company’s stock worth $591,000 after acquiring an additional 1,045 shares in the last quarter. Orca Investment Management LLC increased its position in shares of Snap-on by 6.7% in the 3rd quarter. Orca Investment Management LLC now owns 4,078 shares of the company’s stock valued at $1,181,000 after purchasing an additional 255 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Snap-on by 7.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,480 shares of the company’s stock valued at $718,000 after purchasing an additional 170 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Snap-on by 30.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,478 shares of the company’s stock valued at $1,297,000 after purchasing an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock valued at $8,077,390 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Snap-on Stock Performance

NYSE SNA traded up $5.27 during trading hours on Tuesday, hitting $301.87. The company had a trading volume of 226,723 shares, compared to its average volume of 289,709. The business has a 50 day moving average of $281.00 and a 200-day moving average of $276.06. The company has a market cap of $15.90 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $302.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. 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 19.90% and a net margin of 21.90%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.89 EPS. As a group, equities research analysts expect that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on announced that its board has approved a stock buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.46%. Snap-on’s dividend payout ratio (DPR) is presently 38.67%.

Analyst Ratings Changes

SNA has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Friday, September 20th. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Finally, Robert W. Baird lowered their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th.

About Snap-on

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.