Telemus Capital LLC Takes $309,000 Position in Snap-on Incorporated (NYSE:SNA)

Telemus Capital LLC bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,071 shares of the company’s stock, valued at approximately $309,000.

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in Snap-on in the 4th quarter worth about $33,000. Exchange Traded Concepts LLC purchased a new stake in Snap-on in the 4th quarter worth about $43,000. Peoples Bank KS purchased a new stake in Snap-on in the 3rd quarter worth about $40,000. Fortitude Family Office LLC purchased a new stake in Snap-on in the 4th quarter worth about $49,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Snap-on in the 4th quarter worth about $53,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reissued an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Robert W. Baird dropped their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock valued at $13,399,449 over the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

NYSE SNA opened at $268.56 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The firm’s 50 day moving average price is $283.80 and its 200-day moving average price is $278.68. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49. The company has a market cap of $14.16 billion, a PE ratio of 14.09, a P/E/G ratio of 1.92 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $4.60 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Snap-on Incorporated will post 19.24 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.77%. Snap-on’s payout ratio is 39.03%.

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.