Voleon Capital Management LP Has $1.35 Million Position in Snap-On Incorporated $SNA

Key Points

• Voleon Capital Management LP increased its position in Snap-On Incorporated (NYSE:SNA) by 311.6%, now holding 4,013 shares valued at approximately $1.35 million.
• Snap-On recently announced a quarterly dividend of $2.14 per share, with a yield of 2.6%, to be paid on September 10th.
• Wall Street analysts show a mixed outlook for Snap-On, currently holding an average rating of "Moderate Buy" with a target price of $357.00.

Voleon Capital Management LP boosted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 311.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,013 shares of the company's stock after buying an additional 3,038 shares during the period. Voleon Capital Management LP's holdings in Snap-On were worth $1,352,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Snap-On during the first quarter worth $25,000. Golden State Wealth Management LLC boosted its stake 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 valued at $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake 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 valued at $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On in the 1st quarter valued at $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNA. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Bank of America upped their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. 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. According to data from MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Down 0.7%

Shares of NYSE SNA opened at $326.48 on Tuesday. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. Snap-On Incorporated has a 12-month low of $269.58 and a 12-month high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The firm's 50-day simple moving average is $324.27 and its 200 day simple moving average is $323.03.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results 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 net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $5.07 EPS. The company's revenue was up .0% compared to the same quarter last year. On average, research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given 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 yield of 2.6%. Snap-On's dividend payout ratio is presently 45.65%.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 sale, the chief executive officer directly 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 at this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This 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 have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company's stock.

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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