Pegasus Partners Ltd. Acquires 4,187 Shares of Snap-on (SNA)

Pegasus Partners Ltd. lifted its holdings in shares of Snap-on (NYSE:SNA) by 14.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,464 shares of the company’s stock after purchasing an additional 4,187 shares during the period. Snap-on comprises about 1.0% of Pegasus Partners Ltd.’s investment portfolio, making the stock its 22nd biggest position. Pegasus Partners Ltd. owned 0.06% of Snap-on worth $4,790,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SNA. Wasatch Advisors Inc. grew its holdings in shares of Snap-on by 80.0% during the 4th quarter. Wasatch Advisors Inc. now owns 2,700 shares of the company’s stock valued at $471,000 after purchasing an additional 1,200 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Snap-on by 5.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 283,940 shares of the company’s stock valued at $49,491,000 after purchasing an additional 15,473 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Snap-on by 55.3% during the 4th quarter. State of Alaska Department of Revenue now owns 10,025 shares of the company’s stock valued at $1,745,000 after purchasing an additional 3,570 shares during the last quarter. Reinhart Partners Inc. grew its holdings in shares of Snap-on by 12.6% during the 4th quarter. Reinhart Partners Inc. now owns 137,091 shares of the company’s stock valued at $23,895,000 after purchasing an additional 15,333 shares during the last quarter. Finally, Palo Capital Inc. grew its holdings in shares of Snap-on by 53.8% during the 4th quarter. Palo Capital Inc. now owns 16,923 shares of the company’s stock valued at $2,950,000 after purchasing an additional 5,921 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

SNA has been the topic of several recent research reports. Barrington Research reaffirmed a “buy” rating on shares of Snap-on in a report on Thursday, March 8th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Robert W. Baird reissued a “buy” rating and issued a $210.00 price target on shares of Snap-on in a report on Friday, April 20th. Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a report on Wednesday, February 14th. Finally, B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a report on Monday, March 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Snap-on has a consensus rating of “Hold” and an average price target of $189.13.

Shares of Snap-on opened at $150.33 on Friday, Marketbeat.com reports. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.25 and a beta of 1.16. Snap-on has a 12-month low of $140.83 and a 12-month high of $185.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.28.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 19th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.06. The business had revenue of $935.50 million for the quarter, compared to analyst estimates of $926.52 million. Snap-on had a net margin of 15.50% and a return on equity of 20.63%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.39 EPS. research analysts expect that Snap-on will post 11.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Monday, May 21st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, May 18th. Snap-on’s dividend payout ratio (DPR) is presently 32.41%.

In other news, SVP Thomas J. Ward sold 5,743 shares of Snap-on stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $159.93, for a total transaction of $918,477.99. Following the sale, the senior vice president now owns 51,840 shares of the company’s stock, valued at approximately $8,290,771.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas L. Kassouf sold 96,000 shares of Snap-on stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $160.40, for a total transaction of $15,398,400.00. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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

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