Kera Capital Partners Inc. Acquires New Stake in Snap-on Incorporated (NYSE:SNA)

Kera Capital Partners Inc. bought a new position in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 728 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Pacer Advisors Inc. grew its stake in Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after purchasing an additional 152,631 shares during the period. Benjamin Edwards Inc. grew its stake in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares during the period. Finally, Nordea Investment Management AB raised its position in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,929 shares of company stock worth $15,645,074. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

SNA opened at $348.17 on Friday. The company has a market cap of $18.28 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $351.33 and its 200-day moving average price is $310.37. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.46%. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Analyst Ratings Changes

Several brokerages have recently commented on SNA. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barrington Research boosted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Company 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.