Palouse Capital Management Inc. Has $1.85 Million Stake in Snap-on Incorporated (NYSE:SNA)

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Palouse Capital Management Inc. lowered its stake in Snap-on Incorporated (NYSE:SNA) by 6.6% during the first quarter, HoldingsChannel.com reports. The firm owned 11,795 shares of the company’s stock after selling 831 shares during the period. Palouse Capital Management Inc.’s holdings in Snap-on were worth $1,846,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNA. Andra AP fonden bought a new stake in shares of Snap-on in the 1st quarter valued at $6,245,000. Trexquant Investment LP bought a new stake in shares of Snap-on in the 1st quarter valued at $331,000. Jaffetilchin Investment Partners LLC increased its position in shares of Snap-on by 1.7% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 5,516 shares of the company’s stock valued at $863,000 after buying an additional 92 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Snap-on by 6.1% in the 1st quarter. Kennedy Capital Management Inc. now owns 34,642 shares of the company’s stock valued at $5,422,000 after buying an additional 1,980 shares in the last quarter. Finally, Teza Capital Management LLC increased its holdings in Snap-on by 308.6% during the 1st quarter. Teza Capital Management LLC now owns 6,783 shares of the company’s stock worth $1,062,000 after purchasing an additional 5,123 shares in the last quarter.

In other news, SVP Thomas J. Ward sold 21,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $169.75, for a total transaction of $3,564,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $156.68, for a total transaction of $1,846,160.44. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

SNA stock traded down $0.19 during trading hours on Wednesday, reaching $162.30. 4,093 shares of the stock were exchanged, compared to its average volume of 625,850. The stock has a market cap of $9.03 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.57 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.66 and a debt-to-equity ratio of 0.29. Snap-on Incorporated has a 12 month low of $135.29 and a 12 month high of $189.46.

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, topping the Zacks’ consensus estimate of $2.91 by $0.10. The firm had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. On average, analysts forecast that Snap-on Incorporated will post 12.36 earnings per share for the current fiscal year.

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

SNA has been the subject of a number of research reports. Barrington Research set a $185.00 target price on Snap-on and gave the stock a “buy” rating in a report on Monday, April 22nd. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Bank of America cut Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 target price for the company. in a report on Tuesday, April 16th. Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $186.00 to $160.00 in a report on Wednesday, April 10th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Snap-on in a report on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Snap-on presently has a consensus rating of “Hold” and an average target price of $185.20.

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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 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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