Gallacher Capital Management LLC Invests $329,000 in Snap-on Incorporated (NYSE:SNA)

Gallacher Capital Management LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,139 shares of the company’s stock, valued at approximately $329,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avantax Planning Partners Inc. increased its holdings in shares of Snap-on by 3.5% during the third quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after buying an additional 38 shares in the last quarter. Phoenix Wealth Advisors increased its stake in Snap-on by 3.1% in the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its position in Snap-on by 17.2% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after buying an additional 40 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its position in shares of Snap-on by 0.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after purchasing an additional 47 shares during the period. Finally, Contravisory Investment Management Inc. lifted its stake in shares of Snap-on by 2.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock valued at $570,000 after buying an additional 48 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA traded up $3.56 during midday trading on Monday, hitting $274.59. 163,410 shares of the company’s stock were exchanged, compared to its average volume of 311,022. The business’s fifty day moving average price is $284.25 and its two-hundred day moving average price is $279.49. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.87 and a beta of 1.00. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $4.60 EPS. Snap-on’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Activity

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 in the company, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,522 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the transaction, the chief financial officer now owns 95,661 shares in the company, valued at approximately $26,014,052.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,930 shares of company stock valued at $14,089,523. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNA. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Finally, Robert W. Baird cut their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $316.75.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.