Birch Capital Management LLC Buys 1,136 Shares of Snap-On Incorporated $SNA

Key Points

• Birch Capital Management LLC increased its stake in Snap-On Incorporated by 27.9%, acquiring an additional 1,136 shares, bringing its total holdings to 5,203 shares worth $1,619,000.
• Snap-On recently declared a quarterly dividend of $2.14 per share, reflecting an annualized dividend of $8.56 and a yield of 2.6%.
• In the most recent quarter, Snap-On reported $1.18 billion in revenue, surpassing analysts' expectations, with earnings per share of $4.72, beating the consensus estimate.

Birch Capital Management LLC increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 27.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,203 shares of the company's stock after acquiring an additional 1,136 shares during the quarter. Birch Capital Management LLC's holdings in Snap-On were worth $1,619,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNA. GAMMA Investing LLC increased its stake in Snap-On by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock valued at $703,000 after purchasing an additional 1,008 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Snap-On by 634.8% during the 1st quarter. SG Americas Securities LLC now owns 3,762 shares of the company's stock worth $1,268,000 after acquiring an additional 3,250 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Snap-On by 0.9% during the 1st quarter. Handelsbanken Fonder AB now owns 38,476 shares of the company's stock worth $12,967,000 after acquiring an additional 353 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Snap-On by 4.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company's stock worth $2,508,000 after acquiring an additional 320 shares during the last quarter. Finally, CX Institutional purchased a new position in Snap-On during the 1st quarter worth $113,000. Institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction that occurred 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 directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction that occurred 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 approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by company insiders.

Snap-On Trading Down 2.1%

Shares of SNA opened at $332.17 on Friday. The business's 50-day moving average price is $331.01 and its 200-day moving average price is $323.85. Snap-On Incorporated has a twelve month low of $285.00 and a twelve month high of $373.89. The stock has a market cap of $17.33 billion, a PE ratio of 17.72, a P/E/G ratio of 2.36 and a beta of 0.78. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

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

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

SNA has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Wednesday. Tigress Financial lifted their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Bank of America lifted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On presently has a consensus rating of "Moderate Buy" and an average 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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