2,807 Shares in Snap-On Incorporated $SNA Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 2,807 shares of Snap-On Incorporated for approximately $946,000 during the first quarter, amid a trend of institutional investors increasing their stakes in the company.
• Snap-On's CEO and CFO recently sold significant amounts of their stock, with CEO Nicholas T. Pinchuk selling 23,042 shares for over $7.39 million, indicating a 2.75% decrease in his ownership.
• Snap-On has declared a quarterly dividend of $2.14, representing a 2.6% yield and a payout ratio of 45.65%, reflecting the company's ongoing commitment to returning value to shareholders.

Caxton Associates LLP purchased a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,807 shares of the company's stock, valued at approximately $946,000.

A number of other institutional investors also recently modified their holdings of the stock. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after buying an additional 32 shares during the period. Horizon Investments LLC boosted its stake in shares of Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after buying an additional 32 shares during the period. TrinityPoint Wealth LLC boosted its stake in shares of Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after buying an additional 33 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after buying an additional 34 shares during the period. Finally, Canandaigua National Trust Co of Florida boosted its stake in shares of Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 in the last quarter. Insiders own 3.90% of the company's stock.

Snap-On Stock Performance

Shares of SNA opened at $324.21 on Thursday. The company has a market capitalization of $16.91 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. Snap-On Incorporated has a one year low of $269.58 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company's fifty day moving average price is $324.47 and its 200 day moving average price is $323.04.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $5.07 EPS. As a group, analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 45.65%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Tigress Financial raised their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Robert W. Baird raised their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

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.

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