Simplicity Solutions LLC Purchases New Shares in Snap-on Incorporated (NYSE:SNA)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Snap-on by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after acquiring an additional 44,555 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Snap-on by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after acquiring an additional 26,260 shares during the period. JPMorgan Chase & Co. boosted its position in Snap-on by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock worth $309,984,000 after acquiring an additional 8,649 shares during the period. Ariel Investments LLC boosted its position in Snap-on by 1.8% during the 1st quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares during the period. Finally, Northern Trust Corp boosted its position in Snap-on by 3.6% during the 1st quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after acquiring an additional 30,664 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock worth $13,399,449 over the last 90 days. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNA. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Finally, Robert W. Baird dropped their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $301.40.

Snap-on Price Performance

Snap-on stock opened at $268.80 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.82. The firm has a market cap of $14.20 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.92 and a beta of 0.99. The business’s fifty day moving average is $283.78 and its two-hundred day moving average is $278.44. Snap-on Incorporated has a 52 week low of $245.73 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.24 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is currently 39.03%.

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.