GAMMA Investing LLC Has $236.92 Million Position in Snap-on Incorporated (NYSE:SNA)

GAMMA Investing LLC raised its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 65,113.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 703,003 shares of the company's stock after purchasing an additional 701,925 shares during the period. GAMMA Investing LLC owned approximately 1.34% of Snap-on worth $236,919,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the fourth quarter valued at about $28,000. CoreFirst Bank & Trust acquired a new position in Snap-on in the fourth quarter valued at about $40,000. TCTC Holdings LLC increased its holdings in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Snap-on during the fourth quarter worth about $61,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer now directly owns 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,425 shares of company stock valued at $16,745,583. 3.90% of the stock is owned by insiders.

Snap-on Stock Down 0.1%

Shares of SNA traded down $0.28 during mid-day trading on Wednesday, hitting $320.80. 86,486 shares of the company's stock were exchanged, compared to its average volume of 363,224. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a market cap of $16.77 billion, a PE ratio of 16.45, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a 50-day simple moving average of $320.31 and a 200 day simple moving average of $336.53.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $4.91 EPS. On average, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Analysts Set New Price Targets

SNA has been the subject of several research analyst reports. Robert W. Baird decreased their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

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.