Entropy Technologies LP Takes Position in Snap-On Incorporated (NYSE:SNA)

Key Points

• Entropy Technologies LP has acquired a new stake of 2,300 shares in Snap-On Incorporated, valued at approximately $775,000.
• Snap-On reported earnings per share of $4.72 for the last quarter, exceeding estimates, with a revenue of $1.18 billion.
• The company will pay a quarterly dividend of $2.14 on September 10th, representing a yield of 2.6%.

Entropy Technologies LP acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,300 shares of the company's stock, valued at approximately $775,000.

Other institutional investors have also bought and sold shares of the company. Kennedy Capital Management LLC acquired a new position in Snap-On in the fourth quarter valued at about $234,000. Sterling Capital Management LLC lifted its stake in Snap-On by 54.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,154 shares of the company's stock valued at $1,071,000 after buying an additional 1,108 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Snap-On in the fourth quarter valued at about $367,000. Advisors Capital Management LLC lifted its stake in Snap-On by 3.4% in the fourth quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after buying an additional 39 shares during the period. Finally, Mariner LLC increased its holdings in shares of Snap-On by 4.3% in the fourth quarter. Mariner LLC now owns 29,409 shares of the company's stock worth $9,984,000 after acquiring an additional 1,219 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNA shares. Robert W. Baird increased their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Stock Performance

Shares of SNA traded down $8.79 during mid-day trading on Thursday, reaching $325.02. The company's stock had a trading volume of 250,932 shares, compared to its average volume of 324,538. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89. The stock has a market cap of $16.95 billion, a P/E ratio of 17.33, a PEG ratio of 2.32 and a beta of 0.76. The business has a 50-day simple moving average of $319.50 and a two-hundred day simple moving average of $325.50. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

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

Snap-On Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,304 shares of company stock worth $15,061,306. 3.90% of the stock is owned by corporate insiders.

Snap-On 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.