Kinneret Advisory LLC Purchases New Stake in Snap-on Incorporated (SNA)

Kinneret Advisory LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,440 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Snap-on in the 4th quarter valued at $33,000. Tributary Capital Management LLC bought a new position in Snap-on in the 4th quarter valued at $44,000. Private Capital Group LLC grew its stake in Snap-on by 98.6% in the 4th quarter. Private Capital Group LLC now owns 437 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares during the period. Atlas Capital Advisors LLC grew its stake in Snap-on by 1,158.3% in the 4th quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock valued at $66,000 after purchasing an additional 417 shares during the period. Finally, First Mercantile Trust Co. grew its stake in Snap-on by 39.2% in the 4th quarter. First Mercantile Trust Co. now owns 501 shares of the company’s stock valued at $73,000 after purchasing an additional 141 shares during the period.

A number of research analysts have issued reports on SNA shares. Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet downgraded Snap-on from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th. Finally, Bank of America began coverage on Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $190.33.

SNA stock opened at $156.61 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.91 billion, a PE ratio of 13.26, a PEG ratio of 1.34 and a beta of 1.27. Snap-on Incorporated has a fifty-two week low of $135.29 and a fifty-two week high of $189.46.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, hitting the consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.69 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 12.33 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 25th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, February 22nd. This represents a $3.80 annualized dividend and a dividend yield of 2.43%. Snap-on’s payout ratio is 32.18%.

In other news, SVP Thomas L. Kassouf sold 18,657 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now owns 3,920 shares in the company, valued at approximately $632,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $157.19, for a total value of $60,832.53. Following the transaction, the director now owns 9,996 shares of the company’s stock, valued at approximately $1,571,271.24. The disclosure for this sale can be found here. Insiders have sold a total of 67,977 shares of company stock valued at $10,435,589 in the last quarter. 4.00% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Kinneret Advisory LLC Purchases New Stake in Snap-on Incorporated (SNA)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2019/03/15/kinneret-advisory-llc-purchases-new-stake-in-snap-on-incorporated-sna.html.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

Read More: How are institutional investors different from individual investors?

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).

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

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.