FCG Investment Co Has $1.48 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

FCG Investment Co raised its holdings in Snap-on Incorporated (NYSE:SNA) by 3.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,982 shares of the company’s stock after purchasing an additional 162 shares during the quarter. Snap-on accounts for about 1.2% of FCG Investment Co’s holdings, making the stock its 21st biggest position. FCG Investment Co’s holdings in Snap-on were worth $1,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LPL Financial LLC boosted its position in Snap-on by 20.7% during the third quarter. LPL Financial LLC now owns 33,821 shares of the company’s stock worth $8,626,000 after purchasing an additional 5,793 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Snap-on by 24.2% during the third quarter. Tower Research Capital LLC TRC now owns 2,568 shares of the company’s stock worth $655,000 after acquiring an additional 501 shares during the period. Bank of Nova Scotia grew its position in shares of Snap-on by 11.9% in the third quarter. Bank of Nova Scotia now owns 6,850 shares of the company’s stock valued at $1,747,000 after purchasing an additional 730 shares during the last quarter. Teza Capital Management LLC increased its stake in shares of Snap-on by 10.0% during the third quarter. Teza Capital Management LLC now owns 2,169 shares of the company’s stock worth $553,000 after purchasing an additional 197 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Snap-on by 12.2% in the 3rd quarter. Lazard Asset Management LLC now owns 4,522 shares of the company’s stock valued at $1,152,000 after purchasing an additional 492 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Jesus Arregui sold 8,434 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,632 shares of company stock valued at $10,353,409. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE:SNA traded down $0.17 during midday trading on Thursday, hitting $256.89. The stock had a trading volume of 146,092 shares, compared to its average volume of 287,097. The company’s 50-day moving average price is $269.76 and its 200-day moving average price is $279.32. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $13.54 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $4.60 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

Analysts Set New Price Targets

Several equities analysts recently commented on SNA shares. Robert W. Baird decreased their price target 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, April 19th. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average target price of $316.75.

Snap-on 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.