Snap-on Incorporated (SNA) Position Increased by Compass Capital Management Inc.

Compass Capital Management Inc. lifted its stake in Snap-on Incorporated (NYSE:SNA) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 181,654 shares of the company’s stock after purchasing an additional 8,332 shares during the quarter. Snap-on accounts for approximately 3.6% of Compass Capital Management Inc.’s portfolio, making the stock its 21st biggest position. Compass Capital Management Inc.’s holdings in Snap-on were worth $28,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in Snap-on by 3.7% during the first quarter. CIBC Asset Management Inc now owns 5,435 shares of the company’s stock worth $851,000 after acquiring an additional 196 shares during the last quarter. American International Group Inc. grew its holdings in shares of Snap-on by 325.9% during the first quarter. American International Group Inc. now owns 93,661 shares of the company’s stock worth $14,660,000 after buying an additional 71,671 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Snap-on by 16.5% during the first quarter. Toronto Dominion Bank now owns 38,254 shares of the company’s stock worth $5,986,000 after buying an additional 5,404 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Snap-on by 1.0% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 31,176 shares of the company’s stock worth $4,880,000 after buying an additional 300 shares in the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of Snap-on by 0.6% during the first quarter. State Treasurer State of Michigan now owns 16,035 shares of the company’s stock worth $2,510,000 after buying an additional 100 shares in the last quarter.

In other news, Director William Dudley Lehman sold 387 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $157.19, for a total transaction of $60,832.53. Following the transaction, the director now directly owns 9,996 shares of the company’s stock, valued at $1,571,271.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Iain Boyd sold 26,500 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total transaction of $4,207,935.00. Following the transaction, the vice president now directly owns 19,038 shares in the company, valued at $3,023,044.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,327 shares of company stock valued at $12,687,933. 3.90% of the stock is owned by insiders.

Snap-on stock traded up $0.38 during trading on Wednesday, reaching $162.62. The company had a trading volume of 99,032 shares, compared to its average volume of 666,509. Snap-on Incorporated has a 12-month low of $135.29 and a 12-month high of $189.46. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.55 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.66 and a current ratio of 2.42.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.10. Snap-on had a net margin of 18.64% and a return on equity of 21.66%. The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $933.13 million. During the same period in the previous year, the firm earned $2.79 earnings per share. Snap-on’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Snap-on Incorporated will post 12.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.95 per share. The ex-dividend date is Monday, May 20th. This represents a $3.80 annualized dividend and a yield of 2.34%. Snap-on’s dividend payout ratio is currently 32.18%.

A number of equities research analysts have recently commented on SNA shares. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Robert W. Baird downgraded shares of Snap-on from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $186.00 to $160.00 in a report on Wednesday, April 10th. Barrington Research set a $185.00 price target on shares of Snap-on and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Bank of America downgraded shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Snap-on presently has an average rating of “Hold” and an average target price of $185.20.

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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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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