Twin Tree Management LP Invests $477,000 in Snap-On Incorporated $SNA

Key Points

• Twin Tree Management LP invested approximately $477,000 in Snap-On Incorporated by acquiring 1,414 shares in the 1st quarter.
• Insider transactions included CEO Nicholas T. Pinchuk selling 23,042 shares for over $7.39 million, reducing his stake by 2.75%.
• Snap-On announced a quarterly dividend of $2.14 per share, reflecting a 2.6% dividend yield, with the ex-dividend date set for August 19th.

Twin Tree Management LP acquired a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,414 shares of the company's stock, valued at approximately $477,000.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the 1st quarter worth $25,000. Golden State Wealth Management LLC lifted its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Snap-On in the 1st quarter worth $35,000. Finally, ORG Partners LLC lifted its holdings in shares of Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after purchasing an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,988 shares of company stock worth $9,331,916 in the last ninety days. Company insiders own 3.90% of the company's stock.

Analyst Ratings Changes

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

Snap-On Trading Down 0.6%

NYSE SNA opened at $325.14 on Tuesday. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.26 and a beta of 0.77. Snap-On Incorporated has a one year low of $268.90 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 business's fifty day moving average is $322.64 and its 200-day moving average is $323.51.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.07 EPS. Equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm 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. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's payout ratio is presently 45.65%.

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.

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