Birch Capital Management LLC Purchases 379 Shares of Snap-on Incorporated (NYSE:SNA)

Birch Capital Management LLC raised its holdings in Snap-on Incorporated (NYSE:SNA) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,238 shares of the company’s stock after acquiring an additional 379 shares during the period. Birch Capital Management LLC’s holdings in Snap-on were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SNA. Reston Wealth Management LLC bought a new stake in Snap-on during the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter valued at $39,000. Quarry LP boosted its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the period. Finally, nVerses Capital LLC bought a new position in Snap-on during the 3rd quarter worth about $58,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Performance

Snap-on stock traded up $1.75 during mid-day trading on Tuesday, hitting $336.33. 88,658 shares of the company’s stock traded hands, compared to its average volume of 283,256. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 2.35 and a beta of 1.00. The firm has a 50 day simple moving average of $351.32 and a two-hundred day simple moving average of $305.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $2.14 dividend. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.55%. Snap-on’s payout ratio is 44.06%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,723 shares of company stock valued at $18,029,670 in the last quarter. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average price target of $345.40.

About Snap-on

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.