Snap-On Incorporated (SNA) Shares Bought by Riverhead Capital Management LLC

Riverhead Capital Management LLC boosted its stake in Snap-On Incorporated (NYSE:SNA) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,950 shares of the company’s stock after acquiring an additional 154 shares during the quarter. Riverhead Capital Management LLC’s holdings in Snap-On were worth $1,098,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC grew its stake in Snap-On by 63.7% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after acquiring an additional 263 shares during the period. TrimTabs Asset Management LLC lifted its holdings in Snap-On by 88.4% in the 1st quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock valued at $112,000 after purchasing an additional 312 shares in the last quarter. Lloyds Banking Group plc purchased a new position in Snap-On in the 2nd quarter valued at $129,000. Van ECK Associates Corp lifted its holdings in Snap-On by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock valued at $143,000 after purchasing an additional 59 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in Snap-On by 13.8% in the 1st quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock valued at $160,000 after purchasing an additional 119 shares in the last quarter. 93.77% of the stock is currently owned by hedge funds and other institutional investors.

SNA has been the topic of a number of research reports. FBR & Co set a $205.00 price objective on Snap-On and gave the company a “buy” rating in a report on Friday, July 21st. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price target on shares of Snap-On in a report on Thursday, July 6th. Longbow Research lowered Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $197.00 price target on shares of Snap-On in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $197.86.

In other news, Director Ruth Ann M. Gillis bought 265 shares of the stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $152.58 per share, for a total transaction of $40,433.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

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Snap-On Incorporated (SNA) opened at 146.66 on Friday. The firm has a market capitalization of $8.45 billion, a P/E ratio of 15.18 and a beta of 1.05. The stock’s 50 day moving average price is $148.78 and its 200-day moving average price is $159.68. Snap-On Incorporated has a 12 month low of $140.83 and a 12 month high of $181.73.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. The firm had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. Snap-On’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.36 EPS. On average, analysts forecast that Snap-On Incorporated will post $10.09 earnings per share for the current year.

Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 16th. Snap-On’s dividend payout ratio (DPR) is 29.34%.

Snap-On Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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