Birch Capital Management LLC Has $1.44 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Birch Capital Management LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,238 shares of the company’s stock after buying an additional 379 shares during the period. Birch Capital Management LLC’s holdings in Snap-on were worth $1,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Snap-on by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after purchasing an additional 56,266 shares during the period. Geode Capital Management LLC raised its position in Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares during the period. Finally, Earnest Partners LLC grew its position in shares of Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after buying an additional 13,033 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNA. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research increased their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Stock Performance

Snap-on stock traded up $1.75 during mid-day trading on Tuesday, reaching $336.33. 88,658 shares of the company’s stock were exchanged, compared to its average volume of 283,256. The firm has a market capitalization of $17.66 billion, a PE ratio of 17.31, a P/E/G ratio of 2.35 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $351.32 and its 200 day simple moving average is $305.75. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, sell-side analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This represents a 35.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,723 shares of company stock valued at $18,029,670. 4.10% of the stock is owned by insiders.

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.