Bryn Mawr Capital Management LLC Has $38.47 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Bryn Mawr Capital Management LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 706.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,331 shares of the company’s stock after buying an additional 99,276 shares during the quarter. Snap-on comprises approximately 1.5% of Bryn Mawr Capital Management LLC’s holdings, making the stock its 15th largest position. Bryn Mawr Capital Management LLC’s holdings in Snap-on were worth $38,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-on by 3.4% during the 3rd 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 last quarter. Geode Capital Management LLC raised its stake 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 valued at $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Nordea Investment Management AB raised its stake 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 valued at $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,643 shares of company stock valued at $13,580,191. 4.10% of the stock is owned by insiders.

Snap-on Stock Up 1.0 %

SNA opened at $342.42 on Wednesday. The firm’s 50-day simple moving average is $345.04 and its 200-day simple moving average is $322.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the business posted $4.75 EPS. Equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Analyst Ratings Changes

Several brokerages have issued reports on SNA. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Tigress Financial boosted their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $345.40.

About Snap-on

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.