LMR Partners LLP Purchases New Holdings in Snap-on Incorporated (SNA)

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LMR Partners LLP purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,538 shares of the company’s stock, valued at approximately $223,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Snap-on by 17.9% during the 4th quarter. BlackRock Inc. now owns 4,525,663 shares of the company’s stock worth $657,532,000 after purchasing an additional 687,661 shares during the last quarter. Northern Trust Corp raised its holdings in Snap-on by 14.1% during the 4th quarter. Northern Trust Corp now owns 1,126,132 shares of the company’s stock worth $163,616,000 after purchasing an additional 139,258 shares during the last quarter. Investec Asset Management LTD raised its holdings in Snap-on by 55.2% during the 4th quarter. Investec Asset Management LTD now owns 1,114,605 shares of the company’s stock worth $161,941,000 after purchasing an additional 396,566 shares during the last quarter. Geode Capital Management LLC raised its holdings in Snap-on by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 870,603 shares of the company’s stock worth $126,307,000 after purchasing an additional 69,020 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Snap-on by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,268 shares of the company’s stock worth $119,321,000 after purchasing an additional 91,309 shares during the last quarter.

Several analysts have weighed in on the company. Zacks Investment Research raised Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. TheStreet cut Snap-on from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Finally, Bank of America assumed coverage on Snap-on in a report on Friday, December 21st. They set a “buy” rating and a $165.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $190.33.

In other news, SVP Thomas L. Kassouf sold 18,657 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now directly owns 3,920 shares in the company, valued at approximately $632,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Iain Boyd sold 26,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total value of $4,207,935.00. Following the transaction, the vice president now owns 19,038 shares of the company’s stock, valued at $3,023,044.02. The disclosure for this sale can be found here. Insiders have sold a total of 67,977 shares of company stock valued at $10,435,589 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Snap-on stock opened at $155.68 on Monday. The stock has a market cap of $8.65 billion, a PE ratio of 13.18, a P/E/G ratio of 1.34 and a beta of 1.27. Snap-on Incorporated has a 1 year low of $135.29 and a 1 year high of $189.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.33 and a quick ratio of 1.62.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 7th. The company reported $3.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.74 million. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.69 EPS. Equities analysts forecast that Snap-on Incorporated will post 12.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 25th were given a dividend of $0.95 per share. The ex-dividend date was Friday, February 22nd. This represents a $3.80 annualized dividend and a dividend yield of 2.44%. Snap-on’s payout ratio is currently 32.18%.

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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 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.

Further Reading: Growth Stocks

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

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