Cerity Partners LLC Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Cerity Partners LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 275.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,938 shares of the company’s stock after buying an additional 5,825 shares during the period. Cerity Partners LLC’s holdings in Snap-on were worth $2,292,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Clear Street Markets LLC lifted its holdings in shares of Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Snap-on in the fourth quarter valued at about $33,000. Parkside Financial Bank & Trust boosted its holdings in Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Snap-on during the fourth quarter worth about $43,000. Finally, Quarry LP increased its holdings in shares of Snap-on by 384.4% during the second quarter. Quarry LP now owns 155 shares of the company’s stock valued at $45,000 after acquiring an additional 123 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Thursday. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $306.00.

Snap-on Stock Down 7.7 %

NYSE:SNA opened at $261.76 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The company’s fifty day moving average price is $283.65 and its 200-day moving average price is $278.16. Snap-on Incorporated has a 1-year low of $239.08 and a 1-year high of $298.49. The firm has a market capitalization of $13.83 billion, a P/E ratio of 13.96, a PEG ratio of 2.03 and a beta of 0.99.

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

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, February 23rd. Snap-on’s payout ratio is presently 39.68%.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,368 shares of company stock worth $13,399,449. Corporate insiders own 4.10% of the company’s stock.

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.