Bleakley Financial Group LLC Invests $254,000 in Snap-on Incorporated (NYSE:SNA)

Bleakley Financial Group LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 879 shares of the company’s stock, valued at approximately $254,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Snap-on by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock valued at $1,308,079,000 after acquiring an additional 44,555 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Snap-on by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after acquiring an additional 26,260 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Snap-on by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock valued at $309,984,000 after acquiring an additional 8,649 shares in the last quarter. Ariel Investments LLC increased its stake in Snap-on by 1.8% in the 1st quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock valued at $232,038,000 after buying an additional 20,485 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Snap-on by 3.6% in the 1st quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock valued at $180,298,000 after buying an additional 30,664 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNA. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and an average target price of $306.00.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,368 shares of company stock valued at $13,399,449. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 1.3 %

Shares of SNA stock opened at $285.83 on Tuesday. The company has a 50 day moving average of $284.18 and a 200-day moving average of $278.04. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12-month low of $238.90 and a 12-month high of $298.49. The firm has a market cap of $15.10 billion, a P/E ratio of 15.24, a PEG ratio of 2.07 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 8th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. Snap-on’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $4.42 EPS. Sell-side analysts anticipate that Snap-on Incorporated will post 19.22 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is currently 39.68%.

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.