Groesbeck Investment Management Corp NJ Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Groesbeck Investment Management Corp NJ raised its stake in Snap-on Incorporated (NYSE:SNA) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,277 shares of the company’s stock after buying an additional 1,063 shares during the period. Snap-on comprises about 3.0% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 11th biggest position. Groesbeck Investment Management Corp NJ’s holdings in Snap-on were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Koch Industries Inc. raised its stake in shares of Snap-on by 64,484.7% in the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after purchasing an additional 916,327 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Snap-on by 107.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock valued at $103,506,000 after acquiring an additional 359,772 shares in the last quarter. Findlay Park Partners LLP grew its holdings in Snap-on by 64.4% during the third quarter. Findlay Park Partners LLP now owns 715,000 shares of the company’s stock valued at $106,542,000 after purchasing an additional 280,000 shares during the period. JPMorgan Chase & Co. grew its holdings in Snap-on by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after purchasing an additional 270,905 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Snap-on by 30.7% during the third quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock valued at $126,547,000 after purchasing an additional 199,647 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

SNA has been the subject of a number of analyst reports. Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a report on Wednesday. B. Riley reiterated a “buy” rating on shares of Snap-on in a research report on Wednesday, November 1st. Robert W. Baird reiterated a “buy” rating and issued a $220.00 price objective (up previously from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. Jefferies Group restated a “hold” rating and set a $175.00 price target on shares of Snap-on in a research report on Friday, November 3rd. Finally, Barrington Research upgraded Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price target on the stock in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Snap-on has an average rating of “Buy” and an average target price of $192.00.

Snap-on Incorporated (NYSE SNA) traded down $0.30 during trading on Friday, reaching $160.88. The company’s stock had a trading volume of 721,424 shares, compared to its average volume of 798,594. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78. The company has a market cap of $9,142.30, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09. Snap-on Incorporated has a fifty-two week low of $140.83 and a fifty-two week high of $185.47.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.03. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The firm had revenue of $974.60 million during the quarter, compared to analyst estimates of $940.50 million. During the same period last year, the business earned $2.47 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. equities analysts forecast that Snap-on Incorporated will post 11.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.28 annualized dividend and a dividend yield of 2.04%. Snap-on’s payout ratio is 34.45%.

In other news, SVP Anup R. Banerjee sold 2,091 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $160.11, for a total transaction of $334,790.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total transaction of $3,609,694.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,612 shares of company stock valued at $7,742,082. 3.70% of the stock is owned by company insiders.

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Snap-on Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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