Blueshift Asset Management LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Blueshift Asset Management LLC acquired a new position in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,204 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Credit Agricole S A bought a new position in shares of Snap-on in the fourth quarter worth approximately $31,000. Quantbot Technologies LP bought a new position in shares of Snap-on in the fourth quarter worth approximately $61,000. Whittier Trust Co. bought a new position in Snap-on during the fourth quarter valued at approximately $65,000. Stonebridge Financial Planning Group LLC bought a new position in Snap-on during the fourth quarter valued at approximately $76,000. Finally, TI Trust Inc. bought a new position in Snap-on during the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Shares of SNA stock opened at $109.94 on Thursday. Snap-on Incorporated has a 12 month low of $90.72 and a 12 month high of $174.00. The stock has a market cap of $5.23 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.78 and a beta of 1.19. The company has a current ratio of 2.51, a quick ratio of 1.71 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $140.24 and a two-hundred day simple moving average of $157.20.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $3.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $3.08. Snap-on had a net margin of 18.59% and a return on equity of 20.62%. The business had revenue of $955.20 million during the quarter, compared to analysts’ expectations of $965.58 million. During the same period in the prior year, the company earned $3.03 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Snap-on Incorporated will post 12.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, February 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.93%. Snap-on’s dividend payout ratio is currently 35.24%.

A number of brokerages recently weighed in on SNA. Robert W. Baird lowered their price objective on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Northcoast Research restated a “neutral” rating on shares of Snap-on in a research report on Friday, February 7th. Longbow Research restated a “hold” rating on shares of Snap-on in a research report on Wednesday. Barrington Research restated a “buy” rating and set a $185.00 price objective on shares of Snap-on in a research report on Friday, February 7th. Finally, ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $171.60.

In other news, Director William Dudley Lehman sold 422 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $155.20, for a total value of $65,494.40. Following the completion of the sale, the director now directly owns 10,429 shares of the company’s stock, valued at $1,618,580.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Chambers sold 4,320 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $156.54, for a total transaction of $676,252.80. Following the completion of the sale, the senior vice president now directly owns 14,056 shares of the company’s stock, valued at $2,200,326.24. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate 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 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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